12/17/2016 – Walt Disney Company (DIS)
When the Walt Disney Company (DIS) purchased the Star Wars franchise from George Lucas, I remember thinking at the time that the purchase was an awesome one. After all, when you are a media company, it is all about the content. Or to rephrase it, "content is king". Without the right content, you are destined to fail.
With media companies, the goal is simple. Have as many sets of eyeballs looking at your content as possible. But Walt Disney has other things going for it too, like its theme parks that attract millions of visitors each year.
Disney in Florida is adding a new Star Wars themed section that they are building in their park, sort of like how Universal Studios has a whole section with a Harry Patter theme.
Walt Disney Company (DIS)
This first chart is a 3 year weekly chart for Walt Disney Company (DIS). All trendlines illustrated on this chart are resistance trendlines created by candlesticks. These trendlines are extensions of the resistance areas created by the 3 different bearish reversal candlestick patterns I've illustrated on this weekly chart.
Here is the trade set-up I see taking place.......
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