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.
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Disney
Disney Head and Shoulders Reversal + Buy zoneA couple major things for this chart. 1. The Head and shoulders pattern signifying a break of the support line that has been tested multiple times recently. 2. The declining volume with price rising = bearish. 3. The 26 Week EMA being tested for the 3rd time. As well as a gap that needs to be filled (on the daily chart, we're looking at the weekly) at around $118-126. I would expect a pullback to the .618 Fib zone. And would be looking for potential long entries there.
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Disney the Netflix Killer?I can't see Disney taking meaningful shares from Netflix but
the chart is rather bullish
Break out & gap up after good earnings (announcement of Disney plus)
Stock has been consolidating for a few months, since gap up
Trading between the low $130s, high $140s.
A break above $140 and this can potentially hit $200.
Disney long and strongDisney looks pretty strong. it held up very well during the market sell off the last few days. its just hanging at the 100 day moving average
It looks like a nice double bottom formed over the last 7 days
and again the last 2 days
For a swing
Buy 135 Stop 132.5
First target 140
thats a nice 2 to 1 I think ATHs are in reach later in the year.
might depend on the market of course:)
for a day trade
buy 135 stop 134
First target 137.50
Wait and grab your perfect Disney long position!Walt Disney is still in a downtrend and moving towards 129,90 which is a massive support. As you can see as well, the candle bounced against 0.5 fibonacci resistance, which indicates the downtrend it still going on. I would highly advise you to put Disney on your watchlist and maybe set an alert for 129,90 support line. If it breaks out of its downtrend earlier, go grab a position. If it doesn't, wait until the massive support. It will most likely bounce off again as it already did on the 13th and 29th of May 2019. Disney is a very good and must have stock in your portfolio. So, just wait a little while and grab your chances! Leave your thoughts and feedback in the comments!
Clearly down in value but not for long. This is a keeperAs I said before I like Disney. The only reason they are down (as the article indicates below) is that they spent money to grow.
You can see here that current price as of today *8/13/2019, is just touching back above the upward rally line. I think that this will come back into the black.
As Warren Buffet said, "You don't buy at stock because you want the price to go up or down. You buy stock in a company because you want to own it!" *Earnings report released 8/6/2019
I definitely want to own Disney.
*Excerpt from Article
Lows
...and who's down
What would Tinkerbell do?... Disney just announced record-high quarterly revenues of $20B. That's mainly thanks to Avengers: Endgame crushing box office records. But profits plunged 51% because Disney treated itself to 2 major acquisitions: Mickey bought Fox and most of Hulu as it preps its own streaming service, Disney+, for a November launch
DIS to $150DIS showing strength - looking to see it continue this move upwards with the increase in vol.
MACD setup showing bullish tendencies // RSI has a little room to run to mid 80's IMO
LB Squeeze indicator looking like it's also moving towards a bullish move - still testing that one.
Lots happening this week so always trade carefully - GLTA
DIS Broke Up Ascending Triangle. 10:1 Reward Ratio. DIS broke up ascending triangle a couple of days ago, made a dip, but bounced off 21 EMA on the 1D. Candlesticks, MACD, RSI look bullish. IMO this should be a good entry point (143-145 area). Setting my stop loss at 142 (red area). 10:1 reward ratio. I think this could go up to 150-157 by next week. Trade at your own risk. Let's see where this goes!
Breakdown: Walt $DIS Company. +$150 EOY target based! $DISOne of the best holdings for 2019: Walt Disney Company
Disney this year:
- Disney+ announcement, which caused an 33% gain on the stock.
- Avengers Endgame who broke the box-office record, most $ gained from 1 movie all-time. Most $ in 2 weeks also. 2billion in 2weeks.
- Aladin movie coming out.
- Disney+ launch is set to Novembre, so Netflix is not going to have Disney/Marvel movies from then. Disney+ will get a $7/month for unlimited Disney movies and series. Also it will launch every year new movies and series from then on.
- Another Starwars-movie is ready to go on screen in Decembre. Also a big box-office gainer and merchandise $ gainer.
- Disney also stacked up their Hulu-stocks. Owns Hulu now fully 100%. Netflix competitor for the non-Disney movies.
- More news.
I think Q2 earnings will give a big boost to the stock, because of the movies who are pushing a lot of money in Disney. Avengers only 2billion box office, Aladin also set to be a big gainer. \u2028
Fundamental target EOY 2019: +150/share.
TRIANGLE BREAKOUT TRADES ON DAILYTriangles, Ascending Triangle, Descending Triangles and Ranges are repeatable trading chart patterns.
Triangles and ranges are consolidation chart patterns that can breakout either direction.
Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending volume bars and descending atr line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size.
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.