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Shares of Walt Disney Rise Above Previous 52-Week High

By Amy Schwartz

Shares of Walt Disney (NYSE:DIS) traded today at $89.99, breaking its 52-week high. So far today approximately 470,000 shares have been exchanged, as compared to an average 30-day volume of 6 million shares.

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.

Walt Disney (NYSE:DIS) has potential upside of 3.5% based on a current price of $89.82 and analysts' consensus price target of $93.00. The stock should discover initial support at its 50-day moving average (MA) of $85.69 and subsequent support at its 200-day MA of $78.84.

Walt Disney share prices have moved between a 52-week high of $89.99 and a 52-week low of $60.41 and are now trading 49% above that low price at $89.82 per share. The 200-day and 50-day moving averages have moved 0.61% higher and 0.45% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Walt Disney on May 9th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $81.46. Since that recommendation, shares of Walt Disney have risen 9.6%. We continue to monitor DIS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Walt Disney

Ticker(s): DIS