DIS trade ideas
DIS (weekly) Here is DIS long-term count starting in march low with some important levels and gaps. DIS bounced recently near 200 daily MA, could be potentially the end of the corrective cycle. MACD curling back up and RSI over the neutral level are also good news.
I would like a break of 190 to confirm it or this could only be the B wave of the corrective cycle meaning that we can see a potential gap fill below 170, would also confirm that we are currently forming the right shoulder of the Head and shoulders pattern.
DIS is a good company to have in your long-term portfolio, always on the shopping list.
Disney SHORTCombination of technical and fundamental analysis.
Bounced off several Gann fan lines which are forming the resistance and support points, further supported by the trend-based fib extension. Key point to break to the downside will be the 0.5 fib level which coincides with the 8/1 Gann fan at around $179.05. The RSI is also around the overbought levels on the 4H timeframe.
My fundamental thoughts are short term bearish as SPY comes off ATH and inflation reported higher than expected so we may see a temporary rotation out of growth into value which will directly impact Disney. However, I do expect anticipation of sustained reflation to be short-lived hence why this trade is not a long-term position.
Ultimately, this swing trade will have a tight stop loss of 5% with a price target of $173.
Breakout on DIS after 120 days inside a Flag PatternToday we will speak about DIS; what are we observing right now?
a) The price has been on a Flag Patter for almost 120 days. Yesterday we observed a major breakout of it, and now we have defined confirmation levels for the bullish movement
b) Let's speak about the context first:
-The price is above a dynamic support resistance zone (positive for the bullish move)
-The Price is above the current ascending trendline (positive for the bullish move)
-We have observed a clear Weekly flag pattern above all the two areas, and now we have the breakout of it
c) Relevant levels: If the price reaches the Green horizontal line, we will consider that as a confirmation for our bullish view. If not, we will not execute the setup. Our stop level and also invalidation level (in case the price never executes our setup) is the red horizontal line (below the flag pattern)
d) We have defined two targets using fibo extensions. The first one can be used as a protective area where we move our stop loss to the entry-level or also as a preliminary take-profit zone. However, our final target is the 2nd fibo extension, where we will close all the setup if the expected movement happens.
e) How long can the setup take?: If the movement is successful, we think the resolution can be between 150 and 250 days.
f) How much would you risk on a setup like this?: ALWAYS 1% to 2% of our capital, Never more than that.
Thanks for reading!
DIS Breakout BullishNYSE:DIS
DIS broke out of a descending pennant, deep retest on the resistance line, then bounced today, and finally held and closed above entry.
DIS has been taking it's time, but it's setting up to fly!
Considerations:
Disney Cruise Line hold up/reopen?
Disney Theme Parks Reopen
Disney Plus weak subscriptions, Marvel popularity
DIS Daily Looks ReadyNYSE:DIS broke the down trend line and looks ready to take off.
It gave a small retracement bar today which gives us a perfect spot for an entry at $180.09
The stop loss should be under the local low at $170.31
The profit target is the ATH at $203
Risk/Reward Ratio of 2.3 could be better but good enough with this clean of a chart.
DISNEY (DIS) - WAVE FORECASTDisney has achieved a logical target for this corrective movement. In the chart, however, a slightly bearish H&S formation can be seen, which should be observed in my opinion. 166 USD is crucial: A break below that level would activate 2 more targets to the downside: 155 or (144). That would be a perfect entry. On the other hand, this formation can dissolve very easily. That would also correlate with my bullish view for the overall market. Important for this is a break of the 183.39 level. Then disney can attack the ath again + i see targets around 225 USD.
Inverse Head and Shoulder patternWe are consolidating at the moment, but it looks like we are about to make another leg up.
Price failed to stay below the S1 Pivot and got back even above the P-Pivot.
Price currently sits at the most important resistance, which makes this the fourth trend-line touch.
We also have an inverse Head and Shoulder pattern, which is also a bullish sign.
If we don't have any huge gap-down in the broad market, then we will break-out.
