Shares of Disney are leading the Dow Jones Industrials today.  Positive comments from Cowen have sparked a powerful breakout ahead of its investor day.  DIS is up over 1.5% and is trading at new 2019 highs.  The stock is now up 9% and has layers of support in place.  A retest of the 2018 peak is looking very likely.

Highlights:  Disney is clearing a heavy resistance zone near $115.50 today.  This key area marked multi week highs in February and March as well as last week’s high.  The $116.00 to $115.00 area should be considered a low risk buy zone in the near term.  On the downside, a close back below $113.00 would indicate a failed rally attempt.  We expect DIS to make a run into new all time high territory as today’s breakout move develops.

At time of publication we do not have a position in DIS.