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Christmassy Trading Roundup: Disney Seals Multi-Billion Takeover Deal with 21st Century Fox – Shares Rising

December 15, 2017 09:02

Source: Shutterstock

The big news landed yesterday! Walt Disney announced the sealing of a $52.4bn takeover deal with 21st Century Fox, thus acquiring a very large part of the mass media corporation.

Disney is to acquire Fox's movie and television studio, FX and National Geographic networks as well as international assets – including Star India's television channels – and a 39% stake in Sky, European satellite broadcaster. In addition, Disney also gets Fox's stake in Hulu, US video streaming provider.

21st Century Fox will keep Fox News, the Fox broadcast network, and Fox Sports 1.

Why exactly is this important?

First, the deal ends more than 50 years of media expansion by Fox owner and magnate, Rupert Murdoch. Second, there will clearly be a direct impact on Disney (#DIS) CFD price.

Let's have a closer look at the DIS share CFD price chart below...

DIS Share CFD Price Overview

Source: DIS H4 chart, Admiral Markets platform, Sep-Dec 2017

The price is currently above the weekly H3 (W H3), which suggests an uptrend. The price is also making higher highs and higher lows, possibly targeting the monthly H5 (M H5) 113.85. If the price pull-backs to the POC zone 106.50-150.70 (ATR low, W H3, order block), we could see new buyers joining towards 108.87, 112.75, and 113.85. However, if the price drops below W L3 101.76, the DIS could start a move down towards 99.39 and 95.51

Trading DIS Share CFDs With Admiral Markets

Admiral Markets gives you access to the widest selection of financial instruments, which also includes CFDs on stocks of the world's largest corporations, such as Disney.

It is of utmost importance to keep in mind that trading involves risk and isn't necessarily suitable for all investors. To assess your suitability, you are free to open a 100% risk-free Demo Account.

If you are a live trader or are soon to become one, we highly recommend that you download MetaTrader 5 (for free). MT5 is state-of-the-art in terms of functionality. We also offer a Supreme Edition plug-in for both MetaTrader 4 and MetaTrader 5, which brings you over 60 great features for a fantastic trading experience!

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See you in a week's time!

Happy Holidays,

Olga & Nenad