Market Insights: Walt Disney Chart Analysis
Today, we’re diving into the Walt Disney (DIS) chart, which has seen a sharp rise over the past few weeks! Here's a closer look at the weekly chart to better understand the move in a long-term context:
📊 Key Observations:
• Range-bound since 2022: The stock has oscillated between $125 and $80. Currently, it’s testing the upper boundary of this range.
• Resistance Zone in Focus:
o April 2024 high: $123.74
o 200-week moving average: $120.41
o 55-month moving average: $120.20
o 38.2% retracement of the 2021 move & 2015 peak – all converge here!
• Base Formation: The chart hints at a potential large base building.
📈 Outlook:
While this key resistance zone may hold during the initial test, we anticipate that Disney will eventually break above $123.74, completing the base. This could set the stage for a measured upside target beyond $170!
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
📊 Key Observations:
• Range-bound since 2022: The stock has oscillated between $125 and $80. Currently, it’s testing the upper boundary of this range.
• Resistance Zone in Focus:
o April 2024 high: $123.74
o 200-week moving average: $120.41
o 55-month moving average: $120.20
o 38.2% retracement of the 2021 move & 2015 peak – all converge here!
• Base Formation: The chart hints at a potential large base building.
📈 Outlook:
While this key resistance zone may hold during the initial test, we anticipate that Disney will eventually break above $123.74, completing the base. This could set the stage for a measured upside target beyond $170!
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
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