In my last DIS post I was cautious about the supply level and somewhat skeptical that we'd continue to push new highs. I was correct about chopping sideways, albeit briefly, before choosing a direction.
I've highlighted a nice bullish consolidation pattern from which we broke. Considering the low "holiday volume" last week, I'd like to see price hold above our new 150.63 support and our moving averages (9 ema) catch back up with price, before entering long. Reference our highlighted area. I wouldn't enter short unless we break below the 150.63 area and fail to reclaim it.
(I don't like entering long when price is too far deviated from the moving averages)
I've highlighted a nice bullish consolidation pattern from which we broke. Considering the low "holiday volume" last week, I'd like to see price hold above our new 150.63 support and our moving averages (9 ema) catch back up with price, before entering long. Reference our highlighted area. I wouldn't enter short unless we break below the 150.63 area and fail to reclaim it.
(I don't like entering long when price is too far deviated from the moving averages)
Comment:
DIS tried to hold that 150.63 support level but failed. I wouldn't enter short until we retest that level and fail to reclaim.