jimcurrywang

NYSE: DIS Fill the Gap, Complete the Head and Shoulders Top

NYSE:DIS   WALT DISNEY COMPANY (THE)
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In the chart, we can see that the DIS has filled the gap that opened on 12 APR , 2019 (118-127 USD).
Looking at the diagram in more detail, we can see that the RSI drops into a lower position (20), and it has a wonderful Head and Shoulders Top.

Although the travel ban has deeply affected the Disney parks and may continue to do so in the following several months, I still keep neutral on these situations.
The movie production and the entertainment field would affect by the virus, however, the whole economy is still in the rising trend.
So, we might not be so panic at this moment.

Strictly speaking, I think it is a good time to buy some DIS stock at this price and keep holding for one or two years.
Not only for its strong brand influence but also for its Disney PLus service(STAR WARS, Marvel, PIXAR).
We can imagine that once the Disney Plus member reaches 100 million or more, it will bring a huge corresponding cash flow every month.


R1 127
S1 118 (1.382)
S2 112 (1.618)
S3 102 (2)

Happy Trading,
Jim

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