Walt Disney Co. (DIS) soars towards a bullish trend ahead

By Mark Moneymaster
November 04, 2009 11:26 AM

Symbols: DIS

Posted in: Long Ideas, Technicals, Trading Ideas

Walt Disney Co. (NYSE: DIS) won the government approval to build a theme park in Shanghai, thus giving it access to consumers in mainland China's richest city.

Walt Disney Co. (DIS) stock surged past the 20 days and 50 days MA to $28.7 on Wednesday on the back of this news, which augurs well for Walt Disney Co. (DIS).

The deal marks a major advance for Western media and entertainment firms trying to crack a tough China market.

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Walt Disney Co. (DIS) soars towards a bullish trend ahead

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