DIS is Santa Mouse coming out this week? Disney had some good movement last week, looking for some nice movement this week with the Santa rally. Look for an entry near my wave c correction, we could see a dip or it could ignore that wave c and have a bullish push pm. Look for an entry near 171.11 under that we could go for that gap fill down at 170.48. Major breakout of 175.84 and we'll see ATH again!
Safe plays: 175C 180C (1/8, 1/15)
lotto play/ day trade: 175C, 180C (12/31) very risky lotto 185C 12/31 .17c
DIS
DIS 12/21/2020 LongDIS gapped up on heavy volume over a significant level that it was bumping up against & has spent six days digesting these higher prices.
I bought a half-sized position on Monday (12/21/20) when the market gapped lower due to a new COVID strain mutation in the U.K. I believe that the market is over COVID & has been for some time. Unless there is a negative development on the vaccine front, Pumpin' Powell is going to be able to continue inflating the asset bubble. The DIS pullback also coincided nicely with a bounce off of the 9-day EMA.
My initial stop is below the low of the gap-up day. I'm looking to add larger size on a break of Monday's highs circa $172. I would also be willing to add on a false break & quick reclaim of Monday's lows, at which point I would move stops up to just below the false break.
Walt Disney - Ending Diagonal PatternIn the 240-minute chart, we have 5 descending waves, which have ended in the range of 79.09, in continuation, the correction of this downtrend is in the form of Double Zigzag, which has reached the range of $ 153.91. The Diagonal pattern has been formed in this range, of which the targets can be 128.60 and then $ 117.25.
In case the visualization of this analysis become true, the main pattern will be Expanded Flat and we can consider the expansion of the bearish trend up to the range of $ 79.09.
Clear bullish potential for The Walt Disney Company Today we will explain the reasons we see a clear path for DIS towards the All-time highs zone.
a) We can see an ascending trendline that has been respected
b) Currently, we see a corrective structure (sideways movement composed by an ABC)
c) Remember that corrective structures are a continuation pattern when being preceded by an impulse
d) If we have a breakout of the corrective structure (yellow line) we expect a continuation movement towards the all-time highs zone
e) Also we know that any forecast can go wrong and we have an invalidation level (red line). If the price reaches that zone we will assume that we were wrong and we will cancel any pending setup
f) Remember: Protect your capital, and trade safe!
Previous level of resistance returning for DISDIS has crossed below a previous level of support at $120 that existed for about a month (Sept 24 to Oct 26). That level acted as resistance for a month and a half June 16-August 5 2020. MACD is below indicator line and below midline. RSI is below 30%, so we're probably looking at a pullback to the upside as I write this. Whether this will be a rebound or a pause before continued decline remains to be seen, but based on the MACD and the price action, I'm anticipating the latter.
****This information is presented for discussion only and does not represent advice to buy or sell a security.*****
DIS double bottom within wedge. Big breakout possible.Looking at a double bottom about to go up. If it goes through, it could also pass through a big descending wedge.
With SPY also currently breaking out of a channel and heading for a flag breakout itself (see last post) its a good sign DIS will do well today.
DIS - SWING ANALYSISDIS - As per the daily chart it's about to break the support zone and expected to fall further.
Key levels ;
Sell at the current price 124.23
Maintain stop loss around 131
Potential downside target 114.80
Follow the levels as mentioned.
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