rlim
Long

DIS long on steady price increase and increasing volume

NYSE:DIS   WALT DISNEY COMPANY (THE)
45 3 1
DIS increased today steadily, correcting slightly, the continuing up, and flattening at the top.
Volume 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.

Related Ideas

Follow up:
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.
Reply
rlim rlim
Another down day.
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.

Reply
rlim rlim
$DIS broke above 106, but on lower volume than previous day.
General market is -.5%.

Waiting for stronger confirmation. Continue on higher volume, or retest 106 as support.

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