Disney. We are exposed to Disney almost instantly we are born into this world. The cartoon we are exposed to , the posters, the gifts, the soft toys we had. Disney, the creator of our "Fantasy", can their strong moat stop the downtrend of its stock price?
Sign of downtrend
-Candle sticks moving below MA200. Fail to even get near the MA200 trendline for the past 200 days.
-Downtrend line B: 2 Fib extension of downtrend line A, magnitude much stronger than of line A
-Downtrend line C: 1.618 Fib extension of downtrend line B, magnitude abit strong than of line B
Reversal in progress?
-Retracement R2 magnitude is almost similar to R1, but took much shorter time(26 days vs 116days) to retrace the same amount
-Retracement R3 magnitude is strong than of R2.
-Thus the upward trend is getting strong: R3>R2>R1
Take a look at the horizontal volume indicator. The volume indicator sums up the volume traded at the prices for the past 1800 bars/1800 days. Bulk of the trading occurs between 97 to 115
The price range of 97 to 115 probably is the strongest support Disney can have. If the candlesticks plunge below 97, the next area to have such high trading volume will be around 50.
Watch out for reversal such as double bottom within the price range of 97 to 115
Sign of downtrend
-Candle sticks moving below MA200. Fail to even get near the MA200 trendline for the past 200 days.
-Downtrend line B: 2 Fib extension of downtrend line A, magnitude much stronger than of line A
-Downtrend line C: 1.618 Fib extension of downtrend line B, magnitude abit strong than of line B
Reversal in progress?
-Retracement R2 magnitude is almost similar to R1, but took much shorter time(26 days vs 116days) to retrace the same amount
-Retracement R3 magnitude is strong than of R2.
-Thus the upward trend is getting strong: R3>R2>R1
Take a look at the horizontal volume indicator. The volume indicator sums up the volume traded at the prices for the past 1800 bars/1800 days. Bulk of the trading occurs between 97 to 115
The price range of 97 to 115 probably is the strongest support Disney can have. If the candlesticks plunge below 97, the next area to have such high trading volume will be around 50.
Watch out for reversal such as double bottom within the price range of 97 to 115