The Traderszone Network

Published in TZ Latest News 4 February, 2016 by The TZ Newswire Staff

Disney Teetering At Critical Support

First, it’s not helping that the consumer discretionary sector is down more than 10% over the past three months.  This sector weakness has manifested itself in a very weak three month performance in Walt Disney (DIS) shares, which have fallen more than 15%.  Currently, DIS trades near a critical price support zone from 90-95 and its relative strength vs. the S&P 500 is closing in on its long-term uptrend line.  Loss of both price and relative support would be very bearish for the stock, especially if accompanied by heavy, confirming volume.  Take a look at the chart:

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