MA crossover has me short this rally
The 10,20,30 moving average crossover (circled) and current price still below the 200 EMA (thick red line) on the daily has me short term bearish. Mixed longer term since Disney is been a beast on the weekly chart (not shown). But on the daily chart this is a nice rally to sell hitting the 10 MA today maybe the flat to lower 200 EMA later for more selling.
If it is in for a re-test of Monday's low in the coming weeks then, personally, my position is buying some OCT 105 Puts, risking debit paid. RSI and MACD need to continue lower to confirm this bias.
If it is in for a re-test of Monday's low in the coming weeks then, personally, my position is buying some OCT 105 Puts, risking debit paid. RSI and MACD need to continue lower to confirm this bias.
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.