mukit1

DIS: Super Cycle correction in progress; pump before the dump

Long
NYSE:DIS   Walt Disney Company (The)
RSI study suggests Disney has completed Supercycle wave 1 back in March of 2021. My evidence to this thesis is the highest RSI reading showing at wave 3 of 3 or 3 of 3 (minor degree). Since then, it took a couple of years to complete wave A of Supercycle 2 or in the worst case, wave a of A (yet to be seen). Now there is a monthly bullish divergence forming in RSI and price seems to be forming a bottoming structure. In the next 6 to 12 months I would expect DIS price to make some progress and move up to $100-120 supply area or might push to $150 before losing steam. Wave A is a 5 wave structure, so chances are, it will be zigzag correction and wave B will not make a higher high than the previous wave 5 high. After that I would expect a long drawn out wave C that may last a few years to complete the Supercycle degree correction. The potential demand zone could be $40-$50 area. Bottom line, DIS most likely won't see it's ATH for many years. But that doesn't mean short/medium term upside any less lucrative.

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