FiboTrader1

DIS back to $147 by late Oct

Long
NYSE:DIS   Walt Disney Company (The)
Disney has formed an ascending triangle and has settled on support. ATM Disney is at a great buying point. Look for a retest of $138 and a breakout above these levels to $147 in the coming weeks
Comment:
DIS has broken to the bottom side of the channel, so $126 is my new buying target. I am still bullish on DIS, but right now the overall market is in wave C of a correction according to Elliott Wave theorists. I am not looking long any positions until early Oct.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.