Disney just hit the lower trendline of the downward channel. Current price of $115 - $114 area is also a 2.0 fib extension area which was a long resistance area before breaking out. For those reasons I believe it may have found a good support area for the quick bounce to $125 to $128. However, there is a risk that if current support fails, it could fall to $92 area. So stop loss based on your risk tolerance is necessary. Target - $125 Risk - can fall to $92 How would you trade it? ——————————————————— How to read my charts? - Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines. - The yellow horizontal lines show support and resistance areas. - Fib lines also show support and resistance areas. - The dotted white lines show the price projection for breakout or breakdown target. Disclaimer: Not investment advice.