3 Things Under the Radar This Week
Investing.com
Published Sep 27, 2019 02:04PM ET
Updated Sep 28, 2019 05:00AM ET
Investing.com - Here are three things that flew under the radar this week.
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1. Dangerous Charts for Disney
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The enthusiasm for Walt Disney (NYSE:DIS) as a business has been red hot this year, with its control of the Marvel and Star Wars universes and streaming service Disney+ going live in the U.S. and Canada launching Nov. 12.
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That positive feeling has finally been reflected in the company’s shares, which had been trading in range of at most $30 for the last four years, but broke out in April, according to technical analyst Rob Moreno.
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But the outlook for Disney shares is bearish on daily and weekly timeframes as the charts indicate a head-and-shoulders pattern, Moreno wrote on Rightview Trading .
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“Head-and-shoulders patterns are reliable technical patterns that often appear at significant market tops,” he said.
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“The daily head and shoulders pattern is clearly defined and a confirmed break below neckline support projects significant downside (for Disney),” he added.
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2. Inflation Expectations Temper Again
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U.S. consumers’ inflation expectations hit a new low, according to a recent survey by the New York Federal Reserve released this week.
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The Survey of Consumer Expectations for August showed another decline in expectations for a rise in prices.
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The median expectations for inflation in a one-year time horizon fell 0.2 percentage points last month to 2.4%, which is a series low for the survey, which goes back to June 2013.
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On a three-year time horizon, the median expectation dipped 0.1 percentage point to 2.5%.
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“The median one-year ahead expected price change in gas, medical care, a college education, and rent all fell in August,” the New York Fed said. “Notably, the measures for price change in medical care and rent both reached new series’ lows.”
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3. Texas Instruments Gets a Vote of Confidence
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Semiconductor stocks took a blow this week after Micron Technology (NASDAQ:MU) shares sank on concerns about the company’s guidance on gross margins.
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And Bank of America Merrill Lynch weighed in on the sector with a mixed outlook.
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Merrill upgraded Texas Instruments (NASDAQ:TXN) to buy from neutral, while also cutting Maxim Integrated (NASDAQ:MXIM) to underperform from neutral.
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“We believe the difference in portfolio and solid track record of (free cash flow) returns positions TXN to outperform MXIM over the next twelve months,” Merrill analyst Vivek Arya said in a note.
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He raised the price target on Texas Instruments to $150 from $145 and lowered it on Maxim to $60 from $67.
Written By: Investing.com
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