Fans of Disney are excited by the debut of the Disney+ streaming service tomorrow (I'll be watching The Mandalorian) but a bull flag seems to have been taking shape on the weekly chart since March. We have to see if it can break out of the flag pattern or if it needs another bit of consolidation first. Also, notice how the stock has found support along the 200-day EMA & the 50-day EMA more recently.
$167 is my initial price target, which is the 100% Fibonacci Extension level. My next target would be $176 which is around the price level suggested by the bull flag pattern.
$167 is my initial price target, which is the 100% Fibonacci Extension level. My next target would be $176 which is around the price level suggested by the bull flag pattern.