 Welcome traders to another TickMill earnings report preview with me, Patrick Munley. Before jumping into today's report, it's important that we adhere to the risk disclaimer material provided is for information purposes only it should not be considered as investment advice. Views, information and opinions expressed by me in this recording are solely mine and they're not indicative or representative. Those held by TickMill UK or TickMill Europe. Okay, let's jump into today's report. We're looking at what Disney company held you to report after the closing the New York session today. The EPS is looking for a $1.20 print on revenue of 18.91 billion. It tells us what to look for from the report. Focus is really on Disney's revenue from its parks, experience and product segments. This segment is comprised of Disney's theme parks, resorts, cruise ships and vacation clubs and is tied especially closely to the spending power of consumers in the US and around the world. Parks experience in product segment was badly impacted by the pandemic and related government imposed measures to limit the spread of the virus. This segment posted a string of revenue inclines beginning in the second quarter of 2020 and continuing into the second quarter of 2021. But it has begun to recover from the worst of the pandemic, thanks to the vaccine rollouts and the relaxation of restrictions that have allowed Disney to increase capacity limits at its theme parks. The segment's revenue soared 307% year over year in the third quarter of 2021, for slowing to a pace of 99.4% in the fourth quarter. It then rose 101% year over year in the first quarter and analysts now expect it to rise 101% year over year in the second quarter of 2022. Investors are also likely to focus on how Disney's retirement of its line skipping programs at some of its parks such as FastPass will impact results. Starting December 2021, Disney replaced those line skipping programs with Disney Genie, a digital park planning service that allows visitors to bypass lines for free. Disney Plus subscribers is another key metric that will receive investors' attention. The video streaming service which offers Disney Pixar, Marvel, Star Wars and National Geographic branded content in the US and a number of other countries throughout the world was launched in November 2019. Disney Plus still comprises just a small share of Disney's total revenue, but it has grown rapidly in the short time it's been available. By the end of the first quarter of 2020, in which the service was offered to customers, Disney Plus had 26.5 million subscribers. That number has increased nearly 5 times to 129 million subscribers by the end of the first quarter of 2022. Let's look at some of the statistical trading patterns around the Disney earnings release. Disney shares have moved lower in the immediate aftermath of earnings, 7 out of the 10-12 previous reports on average the stock has moved down, 0.1% in the first day of trading after the company's reported earnings. Based on the previous 12 earnings releases, Disney is more likely to trade higher one day after the earnings for an average gain of 0.6%. On average the stock has moved higher by 0.2% one week after earnings. From a volatility perspective, options traders are pricing in a 7.9% move on earnings and the stock has averaged a 3% move in recent quarters. Moving to the flow and sentiment perspective, there was a notable buyer April 29th of 12,000 and 21 contracts over 120 core expiring Friday the 20th of May. Options order flow sentiment in general has been relatively bullish. Investor sentiment going into the company's earnings release has 62% expecting earnings be. Consensus estimates are for year-over-year earnings growth of 51.9% with revenue increasing 21.12%. Short interest has decreased by 0.2% since the company's last earnings release while the stock has actually drifted lower 29.3% from its open following the earnings release. To be 29% now below its 200-day moving average at $155.42. Let's jump into the charts now and see if we can identify some near-term trading opportunities with respect to the technical setup. We can see that Disney has been in a fairly steep decline, this megaphone top pattern here. What I'm also looking for I think is a test of this trend line resistance monthly trend line support coming in around the $80 mark. So any pop here in the earnings as long as we find resistance at the trend line here $1,640, I watch for bearish reversal patterns to trade back through $106 to the downside. And ultimately I'm looking for an initial test of the $84 and then onto that $80 test to the downside. Then that's going to be pivotal because if we hold the monthly support and on a daily basis can put in some bullish reversal patterns then I'll be looking to engage on the long side potentially build a longer term position in Disney. However, if we don't find support about $78-$90 and take that out on a closing basis then that opens up a significant downside. Certainly thinking about $69-$21 test that will be the yearly S3 pivot likely to find some profit taking there. But then as we maintain this trend line support then to act as resistance we could think about trading mean free lower and certainly a test down to the $50 level. At this stage it would take a close back through the pivot here at the $121 handle to suggest we have a more meaningful tradeable low in place and then we look for a move up to test $130 and monthly projected range resistance $133 and then onto the high volume mode at $150. As always traders plan the trade, trade the plan and most importantly manage your risk. Until next time, thanks very much.