Disney - A Long Term Investors Opportunity?Disney NYSE:DIS
- Three decade long parallel channel in GREEN.
- We are reaching the bottom support line of the GREEN Channel (little downside remaining)
- We can enter this positive divergence trade with a clear stop loss level anywhere under the downward sloping line on the chart. Also, we could exit the trade and cut losses if the RSI support line is broken. We have defined reasonable risk levels for this trade.
- Long term Investors or DCA folk could enter all the way down to the low green resistance line. It we lost that i think would cut my losses and wait to see what happens.
All in, there is a confluence of;
- Short term support (sloping lower line or RSI support Line)
- Both the same lines highlight a positive divergence opportunity.
- Long term support in green
- Clear stop loss levels under any of these lines depending on your time horizon
Happy Trading Folks
PUKA
