Mouse Killer?
The tide with the war between the streaming service giants could be turning. Disney stock received a boost in late 2019 with the announcement of 10 million new to me that felt artificial but my market interpretation meant little as the stock of course after the COVID low caught its momentum and traveled to the very round 200 number where it was soundly rejected. The stock for the most part following March 2021 did not participate in an overall healthy market uptrend that year. The WEEKLY chart below of NFLX shows the opposite as it ran toward year-end and then hit a brick wall at 700 last November. Then it underwent two massive drawdowns with very ill-received earnings reactions falling 22% on 1/21, and 35% on 4/20. Since then it has recorded back-to-back 7/20 and 10/19 up 7.3 and 13.1% respectively. Has it got its act together? Friday CLOSED above its 200-day SMA and is acting well POST breakout above a double bottom breakout pivot of 250.59 taken out on that last earnings jump. DIS is certainly not just a streaming service with theme parks, but the momentum is with NFLX up 22 and 31% over the last one and three-month timeframes while DIS is down 2 and UNCH over the same periods. It is higher 12 of the last 16 weeks and was acting well before the recent surge.