Swing trade from supportNot a very complicated trade, NYSE:DIS bounced off support a few times while in a bear market.
WDP trade ideas
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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Disney - DIS - case for another leg up?A count that suggests the possibility that we could see another leg up for Disney stock. I am loathed to consider "fundamentals" but with the US and much of the world, seemingly freeing itself up from multiple Covid restrictions that might be a bonus for a company like Disney.
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.
DIS: Complete Multiple Time Frame Analysis (H, D and W charts).Hello traders and investors! Let’s see how DIS is doing today, and do a complete Multiple Time Frame Analysis (H, D and W charts)!
First, in the 1h chart, it reacted nicely at the 61.8% Fibonacci’s Retracement, and now it is going up nicely. It is interesting to notice that when it crashed last week, it just hit the previous support at $ 140, and bounced back up quickly.
All of this tells me that DIS wants to engage in a bull trend soon. For now, I would say it is trendless, but we do have some bullish signs around. However, it must lose the 61.8% retracement, otherwise, it could drop all the way down to $ 140 again.
To me, the most important key point is the previous resistance at $ 150, as this is a pivot point seen in the daily chart:
This would be the first pivot point in many months, since DIS started its bear trend, and this could be the beginning of a mid-term reversal, at least. DIS is trendless in the daily chart too, but there are two open gaps (red dashed lines), and if it reverses, they will become targets.
In the weekly chart, I like the fact it is reacting near a support level, but here we see a clear bear trend, as it is doing lower highs/lows and it is below the 21 ema.
Coincidence or not, the 21 ema in the weekly chart ($ 154) is quite close to the pivot point in the daily chart ($ 150), making this point an important resistance.
Let’s see if DIS will trigger its key points or not. Either way, I’ll keep you guys updated, so remember to follow me to not miss any of my future analyses!
$DIS Inverse Head & Shoulders plus Bounce Off Key Support - LONGThe whole market is tanking which could invalidate this Inverse H&S on NYSE:DIS , but so far the right shoulder has formed to the bottom and now the expected move would be a reversal to hopefully clear the neckline. That said, even just from here to the neckline represents a ~9% move and gain.
DISNEY TO REACH BOTTOMLooking at the chart and just pure basic technical indicators, any fundamentals being thrown out the window just speaking for me it’s safe to say Disney will bottom out at the level circled I wish I can describe and give real support that backs up my “theory” all I can say is I’ve seen this pattern and I’ve felt this type of momentum in my 7 years trading and If it dosnt reach the complete bottom it will be close enough but I’m not telling you to invest even tho that would be smart
Just keep Disney on your watchlist and check the price of the stock by Friday. Happy trading!
DIS: Time to BUY after amazing EARNINGS?Hello traders and investors! Let’s talk about DIS today, as it is flying after earnings, and do a complete Multiple Time Frame Analysis (MTFA) on it.
When we see a movement like this, it is important to not get emotional and euphoric, and see the situation as it is. As a trader and long-term investor in DIS, I’m very pleased with this movement, however, is it the right time to buy it? No.
The reason is very simple: DIS just hit a target, which is the gap at $ 155.18. This point is supposed to work as a resistance in the short-term, and the odds are that DIS will do a pullback from here. If not a pullback, at least a sideways correction.
So, what to do with DIS? It depends on your strategy. If you are a short-term trader I think it is time to book profits, if not totally, at least partially. If you plan on buy DIS, or add positions, wait for it to get near a support level again. Remember what I always tell you guys: Buy near supports. This way, you’ll maximize your Risk/Reward.
If DIS drops to its 21 ema, that’s ok. To me, would be great to see DIS repeating what GOOG did after its earnings:
The bias would still be bullish, and it would be a second chance to add positions here. I say this only because I still believe DIS will fill all its previous gaps:
This reaction came in just in time, as in the weekly chart DIS filled a gap from Nov 2020, and found a very nice support level there, before it did a classic Hammer candlestick pattern:
Even with the possibility of a pullback in the short-term, DIS is doing a very good reaction in the daily chart, and we have two other gaps at $ 173 and $ 182, which are targets of this reversal movement. The weekly chart reinforces this idea of a pullback in the short-term, as DIS just hit its 21 ema there, and this might be another resistance for us, along with the gap area in the 1h chart.
It will probably take a few months to recover, but the signs are looking good. To me, DIS is doing what I like to call “gap reversal ritual”, a pattern that never failed me before, and I talked about it in a very old analysis I did on NVDA, last year (link below this post).
Remember to follow me to keep in touch with my daily analysis on stocks and indices. Let’s keep our eyes on DIS, as probably we’ll see more opportunities here soon.
All the best.
DIS Disney Price TargetsTwo weeks ago you could have bough DIS at the October 2020 level. What an opportunity that was, with one year and 4 months gains washed away.
But now they reported a strong Q1 earnings:
earnings of $1.06 per share vs 57 cents in the Zacks consensus
revenues of $21.8 billion vs $21.2 billion analysts expectations
Disney+ subscriber numbers: 129.8 million vs 125.8 million expected. That was somehow to be expected after the NFLX earnings .
Parks, Experiences and Products segment growth of over 100% YoY
My price target is the $159 resistance and, if they continue like that in the second quarter, $175.
Looking forward to read your opinion about it.
