Daniel.B

Either a glimpse of hope or troubling price action

NYSE:DIS   WALT DISNEY COMPANY (THE)
184 4 3
Well as you all know I'm in Disney... Been in the trade to the long side for a while now, and I just wanted to keep you guys updated on the trade.

Price Pattern 1: Ascending Triangle ( Bullish )
- We have a potential ascending triangle forming for a break above 105.00
- If we get a break above 105 the next level of resistance is 107.60

Price Pattern 2: Bear Flag ( Bearish )
- We also have a potential bearish flag forming.
- For confirmation of the pattern we need a break & close outside of the flag pattern .
- If we do get a break below the next area of support is around the 95.60 level.


Hope you like the chart, cheers! =)
Trade active: Still holding onto the position. Hold fast =)
Trade active: Watch for a potential pullback to broken resistance turned support around the 104.00 area.
was it a daytrade gone wrong?))
Reply
Daniel.B Killy_Mel
No its more of a long term swing trade.
Reply
Killy_Mel Daniel.B
I see - its just me kidding around. good analysis tho... I am currently reviewing all Dow stocks, but this one will be the last (I just go by alphabet=) https://www.djaverages.com/?go=industrial-components
+1 Reply
Daniel.B Killy_Mel
Lol its all good no worries =)
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