Get started
Walt Disney Company (The)

DIS Breakout

By spxnqoptions
Looking back at the last five times the MacD crossed bullishly on the weekly chart for Disney, we get (on average) a 24.2 percent move over 3.3 months. The MacD on the weekly is curling again, with a turning point of around 173 on August 2. If we use the average, we should be at 215 (24.2 percent from 173) by the middle of November (3.3 months from Aug 2). This coincides with the length of wave 1 from the wave 4 low (167) for wave 5 to complete a five wave impulse from the covid bottom in March 2020. With delta variant cases peaking and finally trending down, we should see some money rotate into travel/leisure plays like Disney.
Chart PatternsTrend AnalysisWave Analysis

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.