Magic Kingdom (Disney) Will Rise Again

A Technical Overview

If there was one stock that defines my childhood, it is Walt Disney. This company has found a way to monopolize childhoods with their popular classic animations such as Lion King, Little Mermaid and Toy Story and then adulthoods with their Marvel-based series. The company touches upon every childhood with their films, toys, and vacation to Magic Kingdom. But despite its success, the stock price has essentially gone nowhere since 2015.

Since 2015 the stock has bottomed out near the $84.5X support and struggled to move past the ~$120 resistance. After 8 years of trading flat, Disney has finally reached another long-term support which I believe will provide the pivot for more upside.