Walt Disney (NYSE:DIS) a storm in the making ?

Walt Disney (DIS) stock made headlines yesterday, as several analysts offered their projections for Disney+ streaming numbers.

Analysts at Rosenblatt Securities, for instance, upped their expectations for first-quarter Disney+ users to 25 million from 21 million, citing the latest streaming video surveys. 

However, Disney won’t unveil its actual subscription numbers until the blue-chip reports earnings, expected in mid-February.

When the company laid out its plans for Disney+ back in April 2019, DIS stock skyrocketed, gapping higher to the $130 area. This region subsequently acted as support for the shares.

Following the actual launch of the service, back in November 2019, DIS stock once again skyrocketed, taking out its July 2019 peak around $145.

The stock topped out around $152 about a month ago, and has since retreated back toward that $145 area, which seems to be emerging as another leg of potential support.

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So, while I’m not putting on an actual DIS trade right here, what if I wanted to bet on a floor for the stock by putting on a bull put spread?

By using the Probability Analysis chart, I can gauge the odds of where DIS stock might move in the short term.

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