DIS
$DIS cofirmed Head and Shoulders; expect more downsideVolume analysis matches up beautifully with the H&S, and there's also a bearish divergence on the RSI too. All of this points to a reversal. The measured move of the H&S pattern has price falling to $115 which should act as pretty strong support, and this also falls on a important trend line as well. Holding & confirming this as support is cruciall if price is to continue upward
DIS approaching support, potential for a bounce!
DIS is expected to drop to 1st support at 127.81 where it could potentially react off and up to 1st resistance at 137.12.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
H&S pattern forming on DIS, could head lower.Disney (DIS) is currently forming an H&S pattern, which is generally a topping formation pattern. Based on what I see, I think Disney could retrace down toward 117.50-120; as it would coincide with a gap in the price action (around 117.50 or so) and it would test a potential bullish S/R flip around that 120 zone that acted as resistance for awhile, as shown by the red box.
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
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DIS approaching support, potential for a bounce!
DIS is expected to drop to 1st support at 127.81 where it could potentially react off and up to 1st resistance at 137.10.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.