Stock Analysis: Best Stocks to Buy Today for Long Term – Walt Disney Company (DIS)
If you’re looking for the best stocks to buy today for long term, Walt Disney Company (DIS) presents a strong opportunity. On Thursday, 10 October 2024, Walt Disney’s stock closed at $92.99, showing potential for both short-term and long-term gains. Let’s dive into the technical analysis and reasons why Disney is considered a great long-term buy right now.
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1. Overview of Walt Disney Company (DIS)
Walt Disney Company is a global leader in entertainment, with its iconic theme parks, streaming services, film production, and media networks. Despite market challenges over the years, Disney remains one of the best stocks to buy today for long term due to its strong brand, diversified revenue streams, and ability to adapt to market trends.
2. Closing Price: 10 October 2024
On 10 October 2024, Disney closed at $92.99. The stock is currently trading near a key demand zone, making it an attractive entry point for long-term investors. Disney has shown resilience in market downturns and has significant potential for upward growth.
3. Monthly Time Frame Analysis
Looking at the monthly time frame, Disney is trading in a strong bullish trend, consistently creating higher highs (HH) and higher lows (HL) on the chart. The October 2023 monthly candle tested a key demand zone that was previously established during March 2020, around the $85 price level. This zone has acted as a strong support level for Disney in the past.
Currently, the stock is retracing and is once again testing the 2023 swing low demand zone around $85. Based on the stock’s historical performance, we expect the price to bounce towards the upside from this demand zone, reinforcing why it is one of the best stocks to buy today for long term investors.
4. Bearish Harmonic Pattern and Upside Potential
According to the monthly chart, a bearish harmonic pattern has completed around the $150 price level. While this is a longer-term resistance point, it suggests that there is significant upside potential for Disney once it begins its next bullish phase. This harmonic pattern adds another layer of confidence for investors looking for the best stocks to buy today for long term growth.
5. Weekly Time Frame: Bullish Trend Shift
On the weekly time frame, Disney has recently shifted from a bearish trend into a bullish trend, which is a key signal for those considering it among the best stocks to buy today for long term. The stock is currently testing previous demand zones, with strong buying interest indicated by ultra-high volume. This volume spike suggests that large investors are stepping in, which often precedes significant upward price movements.
6. Unmitigated Supply Zones: Upside Targets
Looking at potential upside targets, Disney has two unmitigated supply zones to watch:
- First supply zone at $110
- Second supply zone at $120
These supply zones represent key resistance levels, but they also serve as realistic price targets for long-term investors. We expect Disney to test these supply zones in the coming weeks, further reinforcing why it’s one of the best stocks to buy today for long term growth and stability.
Swing Trade Idea for Walt Disney Company (DIS)
For those looking to capitalize on short-term movements, Disney also presents a compelling swing trade setup. Here’s a swing trade idea based on current technical analysis:
- Buy Entry Range: $90 – $80
- Stop Loss: $77.30
- Target 1: $110
- Target 2: $121.30
This swing trade idea offers a solid risk-to-reward ratio, with the stop-loss set just below the $78 support level. The first target of $110 and the second target of $121.30 represent realistic upside potential based on historical price action and key resistance zones.
7. Why Walt Disney is Among the Best Stocks to Buy Today for Long Term
Disney is considered one of the best stocks to buy today for long term due to several reasons:
- Strong Demand Zone: The stock is currently trading near a critical demand zone around $85, which has provided strong support in the past.
- Bullish Trend Shift: The stock has recently moved from a bearish trend to a bullish trend on the weekly chart, indicating that the downtrend may be over.
- Ultra-High Volume: Recent ultra-high volume suggests that large institutional investors are stepping in, which often leads to strong price movements in the following weeks.
- Upside Potential: With unmitigated supply zones at $110 and $120, Disney has significant upside potential for long-term investors.
8. Risk Management and Strategy
While Disney presents a strong bullish setup, it’s important to manage risk carefully. Swing traders should adhere to the stop-loss at $77.30 to protect against any downside if the stock breaks below the critical $78 level.
For long-term investors, keeping an eye on broader market trends and Disney’s performance in its core businesses, such as streaming services, theme parks, and media networks, will help guide investment decisions. However, with Disney’s strong brand and global reach, the stock is well-positioned for long-term growth.
9. Long-Term Investment Outlook
Walt Disney Company operates in a wide range of sectors, including media, entertainment, and theme parks, making it a diversified investment. As the global economy continues to recover and Disney expands its digital offerings through its streaming services, the company is well-positioned for future growth. For investors seeking the best stocks to buy today for long term, Disney offers a mix of stability, growth, and upside potential.
With key upside targets of $110 and $121.30, there is significant room for price appreciation over the coming months and years. For those willing to hold through market fluctuations, Disney offers a compelling long-term opportunity.
10. Conclusion: Disney is a Strong Buy for Long-Term Investors
Walt Disney Company (DIS) is one of the best stocks to buy today for long term due to its strong technical setup, bullish trend shift, and the support it has at the $85 demand zone. With upside potential towards $110 and $120, the stock presents a promising opportunity for both swing traders and long-term investors.
As long as the stock holds above the $78 level, the bullish outlook remains intact, and Disney could continue to perform well in the coming months. For those looking for a combination of short-term gains and long-term growth, Walt Disney Company is a top contender among the best stocks to buy today for long term investments.
FAQs
1. Is Walt Disney Company a good stock to buy for the long term?
Yes, Walt Disney Company is considered one of the best stocks to buy today for long term due to its strong demand zone support, bullish trend shift, and growth potential in the entertainment industry.
2. What is the closing price of Walt Disney Company on 10 October 2024?
On 10 October 2024, Walt Disney Company closed at $92.99.
3. What are the upside targets for Walt Disney Company?
The upside targets for Disney are $110 and $121.30, with additional resistance at the $120 supply zone.
4. What is the buy entry range for a swing trade on Disney?
The recommended buy entry range for a swing trade is between $90 and $80.
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Note: Always remember: risk no more than 1% per trade.” Keep trailing your stop loss to secure bigger profits.
Please note this is only an opinion and not financial advice.
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