Disney (DIS) shares are inching down this morning after the entertainment giant said its per-share earnings declined by 7% on a year-over-year basis in its fiscal Q1. The selloff pushed DIS decisively below its major moving averages (50-day, 100-day, 200-day), indicating downward momentum could sustain — at least in the near-term.
Still, a senior Citi analyst, Jason Bazinet, recommends buying Disney stock on the post-earnings plunge. At the time of writing, the mass media behemoth is down nearly 10% versus its YTD high.
