$DIS holding up well (potential value play)
Updated
This is the weekly chart for DIS.
In April '19, a huge volume spike propelled the stock out of its multi year trading range. It went on to trade as high as $153 a few months later, before falling back to its range.
Early last month, we see a similarly huge volume spike out of its trading range. Prices held, just like what it did back then; more importantly, the recent sell off in tech did not hit other industries as hard -- this is possibly a sign of sector rotation towards value stocks.
I have a small position in
DIS and am looking at a target of around $150
In April '19, a huge volume spike propelled the stock out of its multi year trading range. It went on to trade as high as $153 a few months later, before falling back to its range.
Early last month, we see a similarly huge volume spike out of its trading range. Prices held, just like what it did back then; more importantly, the recent sell off in tech did not hit other industries as hard -- this is possibly a sign of sector rotation towards value stocks.
I have a small position in
DIS and am looking at a target of around $150Trade active
Trade closed: stop reached
This isn't acting well so I'm cutting losses
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