Proceed with caution.
The stock will give buyers a chance once the algos stop forcing markets higher in response to all of the July data on inflation.
The charts of the entertainment giant are modestly positive before it reports fiscal third-quarter results after Wednesday's close.
A pair of nameless traders have been beating each other with statistics about PARA on FinTV. One's bullish, the other bearish.
You may recall what I recently wrote about Costco.
That belief is borne out by the stellar performance of Amazon after good but not great quarterly results.
One thing is sure: You can't call this stock 'overvalued'.
Many are hopeful that a significant change in market character is developing, but at this point it's still just another sizable bear market bounce.
There has been no magic in Walt Disney stock and the worst may not be over for the shares should the consumer struggle in a tough economy.
Let's review the charts and indicators.