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Will_Wong

DIS-Bearish Flag Pattern: BB Coiled and Ready to breakout

Short
Walt Disney Company (The) (NYSE:DIS)  
Will_Wong Updated   
NYSE:DIS   Walt Disney Company (The)
Chart Patterns
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chartpattern
It appears that DIS has printed a bearish flag pattern. Since the large drop at the last earnings report, DIS had hardly regain any portion of that huge gap down. Instead it made a very feeble attempt to rally the last two weeks, and in essence printed a bearish flag. The Bollinger Bands have contracted and coiled and is now in a position to break out very soon. Chances are it will break down and challenge the recent low of $93.
Comment:
Incredible timing....DIS Dropped 4% today on the announcement by Bob Iger that the Star Wars and Marvel movies will go to the new Disney streaming services exclusively.
Comment:
Trend support at $96++

snapshot

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Will_Wong
DIS: A Bullish Case: $96 support held the last time. Busted ST
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