Slowing growth and high churn at the Disney+ streaming service is weighing heavily on investor sentiment.
Walt Disney Co. (DIS)
Walt Disney Co. (DIS) highlights this week’s earnings calendar, with analysts expecting a profit of just $0.51 per-share on $18.77 billion in revenue. The stock has struggled so far in 2021, posting a 4% year-to-date loss, compared to 2020’s healthy 26% return. The slow pick-up of box office, advertising, and theme park revenue has impacted profits but slowing growth and high churn at the Disney+ streaming service is weighing most heavily on investor sentiment.
Boeing Co. (BA)
Boeing Co. (BA) rallied off a deep low near 200 this week, hopefully carving the last leg of a bullish triple bottom after Pfizer Inc. (PFE) announced a promising oral treatment for COVID-19 patients. The pandemic’s biggest losers shot higher in unison, with high hopes the drug will put an end to government restrictions and encourage business travelers to return to the friendly skies. The aerospace giant will issue a buy signal if it can now break out above descending trendline resistance near 227.
Shiba Inu Coin
Shiba Inu dropped into the 11th slot in cryptocurrency market cap last week, turning lower after posting an all-time high at 0.00008870 in Oct. 28. A 28% bounce on Friday ended a selling wave triggered by $42.3 billion token sale but the coin may need another leg down to attract the buy-the-dip crowd. For now, traders should focus their efforts at 50-day moving average support that’s now lifted to 0.0000375 because that’s where the big September breakout unfolded.
iShares Russell-2000 ETF (IWM)
iShares Russell-2000 ETF (IWM) broke out above a 10-month symmetrical triangle last week, lifting to an all-time high at 243.40 on Friday. It already feels like it’s too overbought to chase the uptick, suggesting late-to-the-party traders sit on their hands and wait for a pullback to new support between 230 and 234. Just keep in mind this index is best traded as a long-term position at the moment because small cap seasonality will remain highly positive until March 2022.
Wynn Resorts Ltd. (WYNN)
Wynn Resorts Ltd. (WYNN) has been battered and bruised in 2021, posting a 13% year-to-date loss, held hostage by pandemic crosswinds. It rallied into May and turned sharply lower as the Delta variant forced gamblers to forego visits to Las Vegas and Macao. Nevada revenue has come roaring back but Macao receipts continue to suffer, booking minus 40% year-over-year revenues in October, on top of minus 72% in the same month in 2020. The company reports Q3 results after Tuesday’s closing bell.