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Rationell
Dec 7, 2021 11:34 AM

Good R/R for shorting here. TP 127$ Short

Walt Disney Company (The)NYSE

Description

Disney looks nasty. It broke down its donward sloping trend channel. Now has restested it. If it fails to re-enter the channel then 127$ is the next target and where you take profit. That also makes a gap-fill. That also coinsides with fib 0.618 from the top. 127$ should be magnetic. SL over fib 50 at ~156$.
Comments
mkryanj
Possible, but it also broke out and up from the falling wedge that started 11/09. I entered a long at 148 due to this. I am practically all out as I expect more downside. However, I will be watching price action at that level first for a potential double bottom and reversal
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