$DIS At Bottom Of Ascending Channel. Looking To Retest The Top.
Disney is consolidating at the bottom of it's channel. It's been in consolidation for a week now and it's ready for a move to the top.
It has now formed a bullish pennant and has been tethering a breakout of consolidation.
If you look closely at the bullish pennant you'll see the recent price movements hinting that $DIS will soon breakout of the flag.
With the news of Disney finally expanding to 8 more countries very soon + the reopening of many Disney studios & parks.
This stock is in a good position to rise.
Both the technicals and fundamentals validate a move up.
On average a rise to the top of a channel takes 3 days and consolidation about about a week. Disney is ripe for a breakout as it has been consolidating for a week and there is now catalyst to initiate a move.
It has now formed a bullish pennant and has been tethering a breakout of consolidation.
If you look closely at the bullish pennant you'll see the recent price movements hinting that $DIS will soon breakout of the flag.
With the news of Disney finally expanding to 8 more countries very soon + the reopening of many Disney studios & parks.
This stock is in a good position to rise.
Both the technicals and fundamentals validate a move up.
On average a rise to the top of a channel takes 3 days and consolidation about about a week. Disney is ripe for a breakout as it has been consolidating for a week and there is now catalyst to initiate a move.