DISN trade ideas
DIS - LongDIS made its way to my 'Do Not Touch" list for 6-8 weeks after its sell-off when it was in the $200s, but finally looks poised to break the downtrend this week. Will look for an entry on a break and hold the the yellow trendline above $179.50. Must hold. If it can not hold, I will look for it to head back down the the demand zone.
Long DisLong above 177.54
T1: 1779.43
T2: 184.15
T3: 192.87
T4: 201.25
Stop: 4hr candle close below 169.16
DIS ShortNice H&S formation on DIS now. Could lead to a nice drop if it breaks the support in yellow.
Seeing a few nice H&S patterns in bigger names that have been leading the overall market higher during the last year or so, right as the Fed announces planned slowdown in QE.
Still bullish on many names with nice bases but seeing some topping signals in some big high-moving stocks from the last year or so.
*Not financial advice -- opinion only*
$DIS 28%+ of revenue via digital media. 2-3X any other sources.$DIS Area of contention. Short and long-term convergence. Expecting a long-term bullish continuation. 2 currently released Disney+ Premier movies released. 2 more coming during the summer. 28%+ of their revenue generated via digital media. Nearly 2-3X any other source of revenue.
Mickey Mouse going back to 200?I am really liking this setup for a swing trade...
I would keep an eye for a confirmation break of this downward trend-line and the .382 fib around 181.
Oddly enough... .the weekly supply happens to right in between the .5 and the .618 fibs so certainly expect lots of resistance within this zone
My game plan:
7/16 190c on a confirmation break of ~181
PT1: 185.36
PT2: 189.73
PT3: 197.30 (1D SUPPLY)
$DIS Channeling Opp Disney seems to be in a solid uptrend with multiple touches along the lower line of the channel. The 50MA crossing the 200MA provides further support for DIS maintaining this uptrend. Seems like a good opportunity to make multiple short trades with CL set outside the borders of the channel.
