(Finance) – The stock is moving upwards and in countertrend compared to the decline in the American stock market Walt Disneywhich changed hands with an increase of 1.05%.
Activist investor Nelson Peltz’s Trian Fund Management has increased its stake in the entertainment giant in an effort to gain more board seats. The fund thus went from holding 6.4 million shares to owning over 30 million.
In total the stake is worth more than 2.5 billion.
Comparing the performance of the stock with the Dow Joneson a weekly basis, we notice that the creator of Mickey Mouse maintains positive relative strength in comparison with the index, demonstrating a greater appreciation by investors compared to the index itself (weekly performance +3.41%, compared to -0.47% of theAmerican index).
The short-term examination of Walt Disney classifies a strengthening of the bullish phase with immediate resistance seen at 84.39 USD and first support identified at 83.27. Technically, a further upward trend in the curve is expected towards new tops estimated in the 85.52 area.