Disney: This One Doesn't End WellDisney
Short Term - We look to Sell a break of 128.13 (stop at 131.49)
A break of bespoke support at 130.00, and the move lower is already underway. Trades with a bearish descending triangle formation. Our outlook is bearish. The trend of lower highs is located at 142.00. Continued downward momentum from 160.00 resulted in the pair posting net daily losses yesterday.
Our profit targets will be 116.29 and 102.30
Resistance: 142.00 / 158.00 / 185.00
Support: 130.00 / 120.00 / 100.00
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DIS trade ideas
DIS TO $180. $130, $125, $115 support Dis approaching support level $130, $125, $115. Im buying at these levels for long with a target of $180. Disney will see COVID relief rally and economy recovery. This market may take years to see the effects of further rate increase.
Debt is questionable, don’t ask questions
This is not financial advice. It’s only is for entertainment.
Longing Disney. DISGoals 150, 156. Invalidation at 129 .
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
DISNEY - $126Disney shares are down over 32% from their all time high. Looking to pick up some Disney Shares in that golden pocket range under $126.
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Double Bottom in Disney?Walt Disney has been under pressure for the last year. But now it may have formed a bullish reversal pattern.
DIS dove toward $129.30 on January 24 during the S&P 500’s initial swoon this year. It retested and held that level on Tuesday, resulting in a potential double-bottom pattern.
Next, the pullback represents a retracement of the entire rally that occurred in late 2020 and early 2021 after Pfizer’s vaccine news spurred confidence in the economy reopening .
Third, stochastics have dipped to an oversold condition.
The trend remains bearish and sentiment is negative following the spike in gasoline and jet-fuel prices. However this double-bottom pattern could make traders start to think about a bounce .
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DIS - Bullish DivergenceDIS formed a mini-double bottom @ 129 and a bullish divergence became apparent between price and RSI. Note that a bullish divergence usually signal an imminent Short- (not Long-) Term trend change, i.e., any rebound from this divergence could be short lived.
Bottom fishing here with initial stop loss just below this mini-double bottom. Should the rebound be sustainable, watch out for trendline resistance on the way up (150-155).
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Please your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you.