andrew.berg
Long

DIS relative strength during market correction

NYSE:DIS   WALT DISNEY COMPANY (THE)
Price of Disney's stocks holds nicely during this corrective phase showing relative strength . S&P             was up 1% on Friday and gain 6 handles on premarket showing some follow through. This stock could be a good candidate when market buying will resume. Entry ans Stop on chart. It is difficul to say what could be potential target as stock hovering near historical highs, but minimum requirements are 1,5-2 more that risk (makes our target $91.60 - $92.00)
Would be nice if you can add the price channels on your chart.
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DIS is busting through the upper BB band, a couple of bucks from the uptrend line, but with negative divergence in the RSI and MACD. $91~92 seems possible if it touches the uptrend line. A similar situation like Feb-March 2014 where it hogs the upper band of the BB for a couple of weeks would see it bust through the uptrend line. Market negativism might make that a forlorn dream. :(
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