Taking a closer look at Walt Disney's recent performance:
🔹 Recent Correction: The market has been moving lower recently but seems to have found support and recovered just ahead of the 38.2% retracement from the August-to-December rally.
🔹 Partial Gap Closure: A key technical sign of strength as it partially closes an old gap.
🔹 Monthly Chart Perspective: The monthly chart shows a return to a critical breakout point from a prior downtrend, now acting as support—a solid foundation for further gains.
🔹 Key Resistance Levels: Looking ahead, the focus is on the $122-$126 zone, which contains significant hurdles:
• Long-term 38.2% retracement
• March high
• The 55-month moving average
💡 Outlook: The market appears well-positioned to challenge this critical resistance area, potentially setting up for a major test. A move up to this zone could define the next big trend for Disney.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
🔹 Recent Correction: The market has been moving lower recently but seems to have found support and recovered just ahead of the 38.2% retracement from the August-to-December rally.
🔹 Partial Gap Closure: A key technical sign of strength as it partially closes an old gap.
🔹 Monthly Chart Perspective: The monthly chart shows a return to a critical breakout point from a prior downtrend, now acting as support—a solid foundation for further gains.
🔹 Key Resistance Levels: Looking ahead, the focus is on the $122-$126 zone, which contains significant hurdles:
• Long-term 38.2% retracement
• March high
• The 55-month moving average
💡 Outlook: The market appears well-positioned to challenge this critical resistance area, potentially setting up for a major test. A move up to this zone could define the next big trend for Disney.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
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.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
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.