Send me real-time posts from this site at my email
Fan Yang

A Look at Disney's (DIS) Long-term Price Triangle

The Walt Disney Company $DIS, has been consolidating since hitting $122 per share in 2015. It has since been consolidating and we now can see that the structure is a triangle.

DIS Weekly Chart

(click to enlarge)

Triangle:
- Just compare the type of price action since that 2015-peak.
- The prevailing rally was relatively persistent. 
- Then, in August 2015, price action became very volatile.
- That volatility is taking a long time to normalize (thus the large triangle).
Bullish Bias:
- The thing is, I think there is still a bullish bias. I would say the market in the long-term appears to be neutral-bullish.
- After all, price is still above the 200-week simple moving average (SMA).
- The RSI held above 40 after pushing above 70 in April 2017. 
- Ability to climb above $113-$114 area should liberate DIS and open up the $122 high with the prospect of bullish continuation beyond that.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue