Reaching end of bearish trend, noticeable bullish divergence
Noticeable bullish divergence between the latest price dips and the RSI,
DIS
may be ripe for reversing its current bearish trend, especially with the earning calls in Nov 9th and Christmas holidays. Disney's latest films (Thor Ragnarok, Coco) have had a good reception.
DIS
may be ripe for reversing its current bearish trend, especially with the earning calls in Nov 9th and Christmas holidays. Disney's latest films (Thor Ragnarok, Coco) have had a good reception.
Comment:
As predicted, DIS took off amid rumors of buying 21st Century Fox but still needs to test its latest resistance at $101.
Comment:
Disney's price broke the resistance at $101 skyrocketing up to $102.90 but then falling back down below the resistance, creating a shooting star candlestick pattern, later confirmed by a red candle in the 4-hour chart, signalling a possible down trend in the short run.