#DIS -1D - 19.07.2020

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#DIS, another mayor US company on its way to recover the field lost on COVID19 crisis.

What it is amazing about this chart, is that it is creating a perfect theoretical bearish pennant. On the other side, PE ratio is indicating 40.30. #DISNEY is fundamentally overprice and validates a possible break down of the tendency.

MACD and RSI without a clear direction. Behavior and volume near first and second resistance will be crucial to confirm or invalidate this bearish pennant.

dailyfx.com/education/technical-analysis-chart-patterns/pennant-pattern.html

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تم فتح الصفقة

Flirting again with the bottom of the triangle.

Earning reports coming soon on August 4th. Spoiler alert: Wont be good.

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تم فتح الصفقة

Getting out of the triangle! Volume improvement on last two sessions. Keep an eye on it.

First target: 111 USD.