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Walt Disney Trading Higher on 1.2x Above-Average Volume (DIS)

Published on Fri, 02/15/2013 - 14:15
By Robert Cotter

Walt Disney's stock is up 0.6% to $55.23 on heavy trading volume. Approximately 11.7 million shares have changed hands today vs. average 30-day volume of 9.4 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

In the past 52 weeks, Walt Disney share prices have been bracketed by a low of $40.88 and a high of $55.50 and are now at $55.23, 35% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.8%.

Walt Disney has overhead space with shares priced $55.23, or 9.6% below the average consensus analyst price target of $61.12. The stock should find initial support at its 50-day moving average (MA) of $51.70 and further support at its 200-day MA of $49.46.

The Walt Disney Company, an entertainment company, conducts operations in media networks, studio entertainment, theme parks and resorts, consumer products, and Internet and direct marketing. The Company produces motion pictures, television programs, and musical recordings, as well as publishes books and magazines. Disney also operates ABC radio and television and theme parks.

By Robert Cotter