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Disney Under a 'Death Cross' — Trade, Don't Own It

Shares of Walt Disney (DIS) has been so volatile after setting its all-time intraday high of $122.08 over a year ago -- on Aug. 4, 2015 -- that the stock should no longer be a considered a portfolio holding. Don't invest in Disney, trade the stock.

Disney's volatility can be traded using Fibonacci retracements on its daily chart and using key levels at which to buy on weakness and sell on strength.

Disney is expected to report second-quarter earnings of $1.61 a share after the closing bell on Tuesday. When the company reported first-quarter earnings in May it missed earnings estimates, breaking a string of 10 consecutive quarters of beats. Disappointing guidance has been the culprit for most of the downside market volatility over the past 12 months.

Disney had been an...