Warning for DISNEY!

Walt Disney Company (The)NYSE

Description

⋅ Mar 22, 2021 8:38 AM

This rising wedge is looking scary.

A possible break to the downside is imminent (within the next several days).

We might get some support and bounce upwards, but we are close to crossing below the 50d MA.

Also a bearish divergence in the RSI is making me lean more towards bearish overall.

Comments

ogdabber

⋅ Mar 23, 2021 2:09 PM

Yeah for real, seems most are looking at smaller patters here... that said, if THIS pattern fails, then a smaller pattern may justify an exhaustive move up, and if followed by strong volume (and maybe retracement bounce from top of this return line) THEN this remains pretty bullish!