DIS - Testing Long Term Horizontal Support
DIS has tested it's long term horizontal support @ 79 and it is holding so far.
A potential bullish divergence is also seen on its monthly chart which increase its odds for some upside bias for the next 1-3 (monthly) candles.
The caveat for divergence is that it only signals a (potential) short term trend reversal, lasting on the average 2-3 candles and does not predict a longer term change.
If seen on the monthly chart, then it could mean a potential bounce for the next 2-3 months.
And of course, while the odds is good, it is not 100%.
While now could be a good time to long some DIS at relatively low prices, there is also a chance that the stock could remain ranged bound for a sometime. Some would prefer to wait till there is clearer momentum (usually above its 200 day moving averge) before establishing a long position
Disclaimer:
TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie stop loss and position sizing) is (probably the most) important!
Take care and Good Luck!
A potential bullish divergence is also seen on its monthly chart which increase its odds for some upside bias for the next 1-3 (monthly) candles.
The caveat for divergence is that it only signals a (potential) short term trend reversal, lasting on the average 2-3 candles and does not predict a longer term change.
If seen on the monthly chart, then it could mean a potential bounce for the next 2-3 months.
And of course, while the odds is good, it is not 100%.
While now could be a good time to long some DIS at relatively low prices, there is also a chance that the stock could remain ranged bound for a sometime. Some would prefer to wait till there is clearer momentum (usually above its 200 day moving averge) before establishing a long position
Disclaimer:
TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie stop loss and position sizing) is (probably the most) important!
Take care and Good Luck!
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