Walt Disney at the moment doesnt take benefit from the news of purchase Euro Disneyland, but is still well oriented and is going to new highs. In the last trading strategy on the stock we indicated a target price at USD 47. This objective has been reached and now we rise to new high target.
From a fundamental viewpoint, despite a high valuation, analysts polled by Thomson Reuters have regularly revised upward the earning per share estimates. Consequently, profitability is improving, showing a relatively good financial health of the company.
The share is trading in upward trend within a bullish wedge. Moving averages are well oriented both in daily and weekly data. The share in the next trading sessions should break out the resistance of USD 50.5. We suggest a long position on the stock in order to aim a new price target at USD 58, with a stop loss at USD 48 in order to cover the position.