Disney has underperformed the broader market this year, but Todd Gordon of TradingAnalysis.com says the stock chart suggests a breakout might be coming.
Disney shares have underperformed the broader market this year, but two market watchers say there may yet be magic in the stock.
So while the stock has only gained about 4% this year compared with the S&P's almost 15% rise, Bapis argues that it's a"long-term hold" as well as a"long-term buy." Looking back at the stock's trend over the past 10 years, Gordon points two distinct periods of the stock moving swiftly higher. And citing the Elliott Wave Theory, which argues that markets move in distinct phases and is used by technicians to predict a stock's next wave, Gordon believes the next push higher may be coming.
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