Disney has positioned itself for a test of its short-term resistance and long-term support.
With the new season of Mandalorian coming this month and an earnings release on 11/6/20 after the layoff of 28.000 employees, we could see some upside in the stock here.
Max upside here is 4-5%.
Max downside is 2%.
Note, if the market opens down and there is the opportunity to buy near $122, I will enter there and adjust the stop loss accordingly for 2%.
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Closed out with a small scalp profit before drop today. Trade is below the stop area and is now invalid.