Disney's Pretty Chart After Beastly Opening Weekend
Walt Disney Co (NYSE: DIS) shares are trading higher by $0.74 at $112.51 in Monday's session. Investors are attracted to the issue after its debut of "Beauty and the Beast" exceeded expectations with a global opening gross of $350 million, $170 million of which came domestically.
Disney's stock, which had been in just over a $2 trading range ($110.04 to $112.89) for the entire month of March, is testing the upper part of the 13-day range.
After a slightly higher open, it retreated only $0.02 to $112.05 before continuing its move higher. So far, the ensuing rally surpassed its March 15 high ($112.45), but has come up shy of the top of the trading range, as $112.75 stands as the high for the session.
From a longer-term perspective, Disney hasn't traded in the $113.00 handle since December 2015, when it peaked at $115.04 but weakened to end that month at $105.08.
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