Update on Disney: price stalling at the tops

١٣ يناير ٢٠٢١

In my previous post, I've mentioned that Disney is dangerously high and that technicals are screaming for a correction. Some time has past and the price is still stalled around the highs. RSI has already dipped quite below the 70 line and MACD's crossover is spreading wider. The histogram is increasing as well. We have a small subdued bearish flag (the figure marked in red lines) that with Yesterday's close it has been breached, though not with a strong intention. Two key zones (the squares in blue) remain to be passed to speak about testing the trend and eventual reversal of that uptrend. The target of the figure is implying for a potential move towards the gap level and the trend support zone.