Technical Pulse- Walt Disney Co July 3, 2019 615


Support 1: 130.77                  Resistance 1: 142.55

Support 2: 126.46  


Walt Disney’s strong bullish move can be seen from the strong price gap up in April 2019. Although the stock did not make any new highs, there is a new higher low being formed into an ascending triangle, which is a high probability bullish breakout pattern. To further solidify the bullish sentiment, another smaller ascending triangle is formed within the bigger triangle, further proof that the consolidation is waiting for a strong breakout.

Another point to note is that the multiple testing of the resistance high further weakens the resistance level and therefore, the breakout will most likely to be very strong.   


*Should the stock price fall bellows the support zone 1 of 130.77; then the stock might extend beyond 126.57.

Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!

Featuring regular TA posts and requests to analyse specific stocks
Click to join!
Notify of
Inline Feedbacks
View all comments

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!