$DIS - Can it close the gap at $122.67?Disney broke out of the down trend channel. However, the price has retreated from 50% of breakout measured move target. Which is normal for breakouts.
There is a chance that it can back fill the gap at $112.67 area, if the price breaks below the support at $116 .
If the price bounce from $117 area, it could retrace back to $126 to $130 area.
Breakdown targets -
Target 1 - $116
Target 2 - $112.67
Risk - reversal from $117 area
Disclaimer: Not investment advice.
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