Walt Disney Company (DIS) - Opportunity to SELL
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Summary:
Current price could drop from our R1 zone to our S1 zone, presenting us with a good opportunity to sell.
Action:
Sell Limit: 109.65 - 112.00
Stop Loss: 123.00
Take Profit: 96.40
Analysis:
On the monthly chart, R1 zone was a key breakout zone along with a strong fibonacci confluence and a pullback of our trend line. There is limited upside in the current price and it could drop to our S1 zone, as illustrated by the yellow dotted lines. If the S1 zone does not hold, we could see price drop lower to our S2 zone before a bounce there.
Disclaimer: There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. Trading BEAN and all individuals affiliated with this site assume no responsibilities for your trading and investment results. All contents featured here are solely for educational purposes and ARE NOT investment or trading advices. Please do your own due diligence and trade at your own risk.
Summary:
Current price could drop from our R1 zone to our S1 zone, presenting us with a good opportunity to sell.
Action:
Sell Limit: 109.65 - 112.00
Stop Loss: 123.00
Take Profit: 96.40
Analysis:
On the monthly chart, R1 zone was a key breakout zone along with a strong fibonacci confluence and a pullback of our trend line. There is limited upside in the current price and it could drop to our S1 zone, as illustrated by the yellow dotted lines. If the S1 zone does not hold, we could see price drop lower to our S2 zone before a bounce there.
Disclaimer: There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. Trading BEAN and all individuals affiliated with this site assume no responsibilities for your trading and investment results. All contents featured here are solely for educational purposes and ARE NOT investment or trading advices. Please do your own due diligence and trade at your own risk.