has been increasing slightly the past 4 days, but still below the 20-day MA.
The last 3 days, the closes and opens were tight. This indicates a brief pause, and that owners are not willing to sell at a lower price. The recent run indicates the strength of the buyer.
DIS is a fundamentally strong company with lots of great things in the pipeline. I am confident DIS continue to go up for the next few weeks.
Very bearish day for DIS. Very bearish candle which closed near the lows. Trended downward w/ barely any retracement until the end.
It stayed above the support of 104.50, which served as a previous resistance last week and a support 2 days ago.
I will be bearish if DIS closes below 104.50 tomorrow.
Bullish signs support will hold:
On 1hr and 4hr chart, showed a kangaroo tail at the low.
On 1 hr chart, last candle closed above the kangaroo tail.
On 1 hr chart, the volume is significantly higher on the up ticks
On 1 day chart, volume today is lower than yesterday
I didn't see any negative news for DIS, so I assume that today people were taking profits.
DIS did have a nice run up recently.
Market did jump up in the beginning of the day, however it was not able to hold the reversal and continued back down.
I am speculating a combination of shake-out + profit taking + don't want to hold over the weekend, especially with the strong downtrend the last 3 days.
In the last hour of trading, volume spiked.
If trend continues Monday, I conclude my speculation was wrong, and there is something bigger going on and I should get out.