Disney - A short trade ahead?
Updated
Disney can get into trouble here. What we see is that the stock failed 3 times to breakout the U$ 108 region (evidenced by the 3 blue rectangles). If it loses the U$ 99 (orange line) it’s a short setup, and the prices could sink down to U$ 92.67 (first target, pink line), then to U$ 79.09 (last and optimal target, red line).
I believe Disney is a wonderful investment for the long run, but for now, the stock must give a better sign of strength to breakout the U$ 108.
I believe Disney is a wonderful investment for the long run, but for now, the stock must give a better sign of strength to breakout the U$ 108.
Comment
DIS isn’t showing any signs of bull strength here. I maintain my analysis, but if the price breakout the U$ 102.60 we could see a fourth test of the U$ 108 price zone.
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