Shares of entertainment conglomerate The Walt Disney Company closed down 4.1% in Tuesday’s trading after the House of Mouse disclosed a disappointing forecast for growth in its Disney+ division.
Chapek warned that the Delta-variant fueled wave of Covid-19 is impacting movie and TV production and will delay releases in the coming months. The pandemic-related suspension of the Indian Premier League cricket season last spring also means less sports content on Disney’s streaming services in India over the summer. And Chapek said that the launch of Star+ in Latin America in recent months had proceeded more slowly than expected.
Taken together, that means Disney+ and its international equivalents might add “low single-digit million” subscribers in the current quarter, which is Disney’s fiscal fourth, Chapek said. Wall Street analysts’ average estimate had been for 17 million additional Disney+ subscribers in the period, according to FactSet.
But when we look at the charts we can see price is bouncing around in a symmetrical triangle on the weekly timeframe.
It’s very hard not to be bullish on Disney but we should keep this on our watchlist and wait for the break before entering this trade.
RSI sitting near 50.
MACD wants to curl.
Watchlist activated.
- Factor Four
Chapek warned that the Delta-variant fueled wave of Covid-19 is impacting movie and TV production and will delay releases in the coming months. The pandemic-related suspension of the Indian Premier League cricket season last spring also means less sports content on Disney’s streaming services in India over the summer. And Chapek said that the launch of Star+ in Latin America in recent months had proceeded more slowly than expected.
Taken together, that means Disney+ and its international equivalents might add “low single-digit million” subscribers in the current quarter, which is Disney’s fiscal fourth, Chapek said. Wall Street analysts’ average estimate had been for 17 million additional Disney+ subscribers in the period, according to FactSet.
But when we look at the charts we can see price is bouncing around in a symmetrical triangle on the weekly timeframe.
It’s very hard not to be bullish on Disney but we should keep this on our watchlist and wait for the break before entering this trade.
RSI sitting near 50.
MACD wants to curl.
Watchlist activated.
- Factor Four