Earnings reaction in Walt Disney

Let’s look at a Daily chart first:

DIS_C

A Doji for $DIS has formed under the Rising 50 SMA but above the Breakout back-test level (defined by the horizontal Black line).

Now for some perspective – a Weekly chart:

DIS_weekly

Up trend remains in tact so likely an opportunistic Buy entry here for traders who have been waiting on a pullback.

 

Disclosure: I traded the stock in after hours on 8/4 but have switched to an August 28w 111/116/110 Risk Reversal Call Spread today for a post-Earnings trade.

– DM 9:10 AM CST