AAL

Walt Disney Stock Upgraded on Macroeconomic Outlook

The stock is on track to snap a five-month losing streak

Deputy Editor
Sep 30, 2024 at 8:59 AM
facebook X logo linkedin


Walt Disney Co (NYSE:DIS) is down 0.2% to trade at $95.85 at last glance, even after Seaport Research upgraded the blue chip stock to "buy" from "neutral," citing its improved macroeconomic outlook. The brokerage also lifted its price target to $108, which is close to analysts' consensus price target of $110.86. 

Walt Disney stock is on track to snap a five-month losing streak today, and is fresh off its fourth-straight daily gain. Since the start of the year, the equity is up 6.2%. A short-term dip could soon be on the way, however, as DIS' 14-day relative strength index (RSI) of 90.6 sits firmly in "overbought" territory. 

Calls have been much more popular than usual over the last two weeks. This is per DIS' 10-day call/put volume ratio of 4.86 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 96% of readings from the past year. 

Options are reasonably priced at the moment, too. The stock's Schaeffer's Volatility Index (SVI) of 23% ranks in the low 13th percentile of its annual range, meaning options traders are pricing in low volatility expectations at the moment. 

 

Same-Day Trading Power: +227% YTD and Counting  — Get in for $10!

We're celebrating 44 years of helping traders win, and you can now tap into one of our most explosive services — Dynamite Day Trading Signals — for just $10.

This service was built for one thing: capturing intraday gains with precision. 

Access two highly-vetted options trades each week -  Complete with defined entries, exits, and a clear plan for same-day profits.

👉 Click Here to Learn More and Position Yourself to Take Action When the Next Alert Hits.