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SharpCharts
Jun 4, 2018 3:28 PM

DIS Long

Walt Disney Company (The)NYSE

Description

FA wise, DIS is a solid stock which has beated earnings estimates the last 2 quarters. Its forecasts earnings also looks good and rising. Stockl is traded around 13-14 its current and forecasted earnings, which is not too bad in this expensive market.

TA wise, DIS is wandering at the lower bound of a gigantic triangle where 5 subwaves can be clearly seen.

Traditionally, triangle like this is neutral i.e. there are equal chances that price will break either side.

So where's our edge in this case?

Since price is at lower bound of the triangle, risk/reward is favorable for LONG. Also, 5-wave triangle often occurs in wave 4. Given that, I'm more favored for buying DIS at current level. Target for V is $135-$145.



"fp2e_k": 14.19405099,
"p2e_k": 17.6115993,
"p2e": 13.34354194,

Comment

Trade active

BOUGHT. Another round!
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