Disney is praying for sweet release of death after hours
No one can say they’re surprised by ESPN (~50% of Disney’s profits) seeing slowing growth. In fact, every analyst on earth saw this coming. The only question was whether or not the miss was “in the stock”.
Apparently it was not. DIS is down 16% year-to-date.
This is why I sell stocks when they break up trends. Once upward momentum is gone in a stock chart all news tends to be seen as bad. Now I have a chance to add below $90, the flash low from last August. I probably won’t but it’s nice to have the option.
Here’s the Disney chart I posted January 4th. It was a happier, simpler time…
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