The Technical Take: Disney Higher Despite Q3 Miss

Walt Disney Co DIS shares are trading higher by $2.50 at $97.46 in Friday's session. Despite a Q3 miss of $0.06 along with a slight miss for revenues, the issue is solidly in the green.

Investors are placing emphasis on its CEO comments that the company expects growth at ESPN to continue over the long term as subscriber losses have begun to decelerate.

After falling under $91 immediately after the release, it sharply reversed course. Following a higher open, it had a brief dip just under the upper-end of Thursday's range ($96.06), to $95.78 before resuming its move higher.

The ensuing rebound has taken the issue to $98.32, before falling back under $98. The current high coincides with its August 11 high of $98.39.