quantguy
Long

Disney Channel Breakout

NYSE:DIS   WALT DISNEY COMPANY (THE)
After taking a big hit early August, which set off a bearish period for DIS, they really started coming back with a vengeance. They've been all over the news, from the new Star Wars movie everyone is going nuts about, to a new streaming service which may compete with NFLX             in the UK. Note the technicals: beautiful channel pattern with a breakout to the upside. We may anticipate some retracement, but note how aggressively it is pursuing that level from August 5th. There is a big vacuum area between that and the low of August 4th, so its smooth sailing after that. Note further how the Fibonacci levels line up almost perfectly, providing some great profit targets and stop losses.
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