Shares of Disney (DIS) appear to be bottoming out.
Not only is it holding support at $105.79, it’s now a bit overextended on RSI, MACD, and Williams’ %R. From here, we’d like to see DIS initially refill its bearish gap at around $117. Helping, former Morgan Stanley CEO James Gorman just bought 20,000 shares of DIS for about $2.1 million at an average price of $106.03.
After the pullback, analysts still like the DIS stock. Needham, for example, just reiterated a buy rating with a price target of $145. The firm says the latest pullback is overdone. Loop Capital also called the pullback an overreaction, and reiterated a buy rating with a price target of $140.