In the prior weeks, I saw a few articles showing DIS approaching support that had been defined in the bottom band of the upward trend channel outlined. However, as this didn't hold support, the stock didn't crash either, as some tend to do following a pattern breakout.
Looking further, you can see a fairly well defined handle being formed on the cup that played out dating back to Feb. With Amazon looking to partner with more movie studios for content, this could be primed for a jump in the coming weeks.
Looking further, you can see a fairly well defined handle being formed on the cup that played out dating back to Feb. With Amazon looking to partner with more movie studios for content, this could be primed for a jump in the coming weeks.
Note
Handle has been updated to the width of the full first candle. Handle still holds...
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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.