Earnings Stock of the Day: DIS
Disney reports earnings today. The chart has been in a bottoming formation since April of 2018 as this company had a business contraction in 2015. The stock is below its all-time high. The bottom is on the short term within a Trading Range of 30-point dimension. Weekly Chart of DIS shows the trading range. The stock is postured to attempt a breakout of the trading range. This requires that the stock move above the previous all-time high to form a new all-time high. It must sustain the new high and move higher for the trading range to be concluded technically. This length of trading range action typically patterns out the excessive speculation of previous years.
Martha Stokes, CMT
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Learn how to use the technical patterns of each market participant for better trade planning.
ttrader.im/tv-candlesticks
Learn how to use the technical patterns of each market participant for better trade planning.
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