THE WALT DISNEY CO.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 112.50 |
| Take Profit | 120.00 |
| Stop Loss | 110.00 |
| Key Levels | 96.00, 98.70, 106.00, 107.00, 110.00, 120.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 107.40 |
| Take Profit | 98.70 |
| Stop Loss | 110.00 |
| Key Levels | 96.00, 98.70, 106.00, 107.00, 110.00, 120.00 |
Shares of The Walt Disney Co., one of the leaders in the entertainment industry, are trading in a corrective trend at 110.00.
On the daily chart, the price, having left the local ascending channel with dynamic boundaries of 107.00–96.00, is trying to stay above it, testing the passed resistance line for the second time.
The four-hour chart shows that after the test, growth is likely to continue, however, if the quotes return into the channel, the recent price gap of 106.00–98.70 may be implemented.
Technical indicators hold a buy signal: fast EMAs on the Alligator indicator move away from the signal line, and the AO histogram forms corrective bars, increasing in the buy zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 112.50 with the target at 120.00. Stop loss – 110.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 107.40 with the target at 98.70. Stop loss – 110.00.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.