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Yesterday the company launched its new Disney-plus product, which is the exclusive platform for Disney video content. Today the company announced that it had secured over 10 million new subscribers. Competitor Netflix (NASDAQ:NFLX) fell by 3% on the news.
CEO Bob Iger stated previously that the new product is risky in that the company will need to operate more like a technology firm. Yet he also noted:
"While there are a number of entrants in the space, no one has the product that we have and the range that we have.”
Our approach to stock analysis uses market cycles to project price action. The stock is still in the rising phase of its current cycle. Yet now it is moving towards a resistance area between $152 and $156. We believe this will define its upside over the coming months.
For the “Best and Worst Stocks of the Week” check out the askSlim Market Week show every Friday on our YouTube channel.
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