Disney (DIS) at Key Support: Double Bottom and Potential Bounce
Disney stock (DIS) is approaching a significant support level around $84, which has held multiple times in the past. The price shows a potential double bottom formation with oversold conditions. The weekly chart indicates a possible bounce back to the $105 level, aligning with previous resistance. However, downside risk remains if the stock breaks below the support zone, hence the stop at $82.50.
Risk/trade: 1%
Risk/portfolio: 10%
Risk/portfolio: 10%
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