Disney is a US based mass media company. The stock has been rangebound for 4 months and lags behind the S&P500.

The Walt Disney Company (NYSE:"DIS") is a US based mass media company. The pandemic allowed for the rise of Disney Plus+ which has helped cushion revenue drops from the loss in park and merchandise revenue. Now that parks are reopening revenue should increase, along with profit and thus the share price.

The financials of Disney are good. Total market capitalisation is $322bn. Q2 numbers were released about a week ago which beat Wall Street estimations and in fact were the best they have ever been. Revenue was $17bn with profit after tax of $1.1bn. Looking at the balance sheet total cash on hand is $16bn with total assets amounting to $202bn, with liabilities at just $111bn.

From a technical aspect the stock is neutral. Disney peaked in March at $202 per share but has since not been able to continue to higher unlike the general market. In fact, the stock is near neutral for the year, which is rare for mega/large cap companies. Given this, it could be very possible that Disney rallies up towards the end of the year. Major support sits at $170 and unless this breaks on a weekly timeframe its likely the stock will at some point break higher towards the $200, which is the initial target. A break above here aims for $220 This rise would also help raise the Dow and S&P.

Overall Disney is a good stock. For the long term it is a great addition to a portfolio and in the short term so long as $170 region holds, upside seems more likely. In the event of $170 breaking targets are $158, though this is not a stock that would want to be shorted.