Market Overview

Rich Ross Sees Upside Potential In Disney, United Continental And Biogen


Rich Ross of Evercore spoke on CNBC's Fast Money about stocks that have had big pullbacks, but also have big upside potential by the year end.

Ross named Walt Disney Co (NYSE: DIS) as his first pick. The stock formed a double bottom and it is now testing its 200-day moving average. He thinks Disney is eventually going to break above its 200-day moving average and by the year end it is going to fill the gap and reach $120, because there is not much resistance above 200-day moving average.

United Continental Holdings Inc (NYSE: UAL) has been falling for the most of the year, but it has started to bottom much earlier than the broad market and now it is testing its 200-day moving average. Ross also noticed a bullish flag pattern on a chart and he is expecting a continuation pattern on the upside, with a projected target at $70.

Ross believes that a decline of 5.56 percent in Biogen Inc (NASDAQ: BIIB) is a great buying opportunity. He said that during the year the stock has formed a head and shoulders top formation and now, after a decline of 38 percent form its highs, it is forming a head and shoulders bottom formation. He sees a possible move higher to $375.

Latest Ratings for DIS

Jun 2019DowngradesOutperformIn-Line
Jun 2019MaintainsOverweight
May 2019MaintainsBuy

View More Analyst Ratings for DIS
View the Latest Analyst Ratings

Posted-In: CNBC Evercore Rich RossAnalyst Color Long Ideas Analyst Ratings Media Trading Ideas


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