Disney stock is really starting to move with a big surge in large players volume in the wake of their two mega-box office hits Black Panther and Avengers: Infinity War.
Sports gambling is coming quickly to about a dozen states after the Supreme Court opened the door to the practice. States are hungry for the tax revenue, which could be as much as $3.4 billion per year. Morgan Stanley said media companies like Disney should also benefit from increased advertising on live sports content.
Disney stock is coming off of a double bottom. I’m calling a bottom in Disney stock from the February market correction. I think Disney stock makes a run back to its 52 week high at $113.19.
Major resistance levels below $103 were just taken out.
Large players volume is blasting off like a rocket in Disney stock. The Twiggs Money Flow has just gone positive for the first time since March 2018. The MACD looks very strong.
Disclosure: I went long Disney stock today.