2024/12/03
Daily 4XSetUps - Bearish Gap In DIS Shares Should Be Defended
“last few days, new highs above may 2024 again for the first time!
will the price action stay above the gap? in the gap? fall below it?”
DIS presented impressive numbers on Thursday, November 14, 2024. In the last financial year, which ended on September 30, the US media group exceeded market expectations in terms of sales and profits. DIS also plans to buy back its own shares worth three billion dollars. The share price rose sharply. To put it specifically: Sales grew by three percent to $91.4 billion in the reporting period, and even by six percent in the final quarter. Profits doubled to almost $5 billion, while adjusted earnings per share rose by almost a third to $4.97. DIS thus exceeded analysts' expectations. Blockbusters like “Inside Out 2” and “Deadpool & Wolverine” as well as the streaming business contributed significantly to its success. It seems that the new old CEO Robert Iger continues to successfully reduce costs, which further increases profitability. He is planning further profit growth for 2024/25. Robert Iger, who returned as CEO in 2022 after a two-year break, has strengthened investors' trust with his strategic successes. The current price action indicates a positive reaction from traders and/or investors, so that a possible comeback of the stock in 2025 could certainly develop.
“Remember that in great partnerships, consideration and generosity are more important than money.”
Ray Dalio
$116.45 : 2024/12/04 - last price action
$114.15 : 2024/05/06 - Bearish GAP High Trendline
$108.40 : 2024/11/14 - Bullish GAP High Trendline
$107.88 : 2024/05/07 - Bearish GAP Low Trendline
$106.80 : 2024/02/08 - Bullish GAP High Trendline
$103.20 : 2024/11/13 - Bullish GAP Low Trendline
$099.28 : 2024/02/07 - Bullish GAP Low Trendline
$087.60 : 2023/09/11 - Bullish GAP High Trendline
$084.92 : 2023/08/11 - Bullish GAP Low Trendline
In addition to the fundamental figures, what was also crucial, was the fact that the last bullish GAP, according to the numbers, was more or less slightly in the only bearish GAP back up again. Therefore, the bulls seem to have gained an appetite - and are currently fighting against the bears for the terrain between $107.88 & $114.15. And that's basically what
DIS shares are all about at the moment - even if things have been looking good in the last few days. We bulls have fought our way out of this bearish GAP. But I don't want to declare success, let alone victory, yet. Because the wounds, i.e. the price action reaction to the last quarterly figures, are still deep. Which is why I wouldn't be surprised by a fall back to $110 - and why I placed a low stop price at $100 for this long DIS 4XSetUp. And/or gave us time until June 30, 2025 to reach the target of $130. Because in addition to the fact that the last bullish GAP, from $99.28 to $106.80, was recaptured upwards over the course of the week, what is also relevant is the fact that this week's bullish GAP in the middle, from $103.20 to $108.40, was also clearly left behind during the week of last quarterly figures publication. So we can speak of a fundamental cushion that the bears will hopefully not be able to get enough of.Even if I repeat myself when it comes to price action - as long as we don't fall below the bearish GAP by the end of 2024, everything is fine! Because the big historical picture of price action remains untouched at above $107.88 - tends to be more bullish than bearish! Therefore, it is important to confirm the outbreak of the last two weeks for the time being, in the last days of 2024 - until Christmas and then until the new year 2025. And that without any further words from me: I think I have the lines so well drawn so that the chart can hopefully be understood self-evidently! Or?
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$130.00 : 2025/06/30 - Target Price
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$116.45 : 2024/12/03 - last price action
$109.12 : 2024/11/14 - Entry Price
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$100.00 : 2025/06/30 - Stop Price
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With best wishes
and with good intentions!
Aaron
“daily 4XSetUps - …” is pure information material!
By trying to give you even more information about some trading capabilities to trade and/or invest in some securities. This post is not a call to action - it only provides information. You decide (not) to decide. Even if I am writing daily 4XSetUps with concrete entry prices, target prices and/or also stop prices! It is like it is - like I said; You decide to respond to the analysis I just formulated to buy, to sell, or to do nothing! More information about my approaches to investing in something specific or just trading it, or even just describing it, can be found in the daily "Another 48h - DXY ...! Analysis Post. Where I try to track the price action in
DXY every day so that we learn something new daily.
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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.