Disney seems to be oversold based on RSI and MACD. Using wave counts, i figure an entry now would be good. Near term target is in the range of 105.85 - 106.15. All long term charts ( daily and weekly) show good entry indicators for an intermediary buy signal. Again I only see this as a trade and not a long term buy signal. I anticipate the target range could be achieved (conservatively) by the second week of September, else the first week of October.
Comment:
Some folks may have already taken an entry over the past few days. I'd watch for an entry confirmation tomorrow. The Larger degree stop loss is at 100.53.Anticipating entry possibility at 101.60.
Trade active:
Position Initiated
Comment:
stoploss @ 100.53
Comment:
Long term View
Comment:
Based on how the following short term moves pan out, i'll be adjusting to go long or short.
Trade closed: stop reached:
@ 100.53
Longer term pattern is now more negative.
Longer term pattern is now more negative.