7/27/2017 – Get Bullish on The Walt Disney Company (DIS)?
There has been a trade set-up that I have been monitoring for The Walt Disney Company (DIS) for approximately 1/2 a year now. I started discussing the trade set-up for DIS back in this article "2/8/2017 – Walt Disney (DIS) High Confidence Trade Set-Up".
I wrote another update on the trade set-up on June 16, 2017. This article reviewed the continued progress of the trade set-up for DIS. Access that article here "6/15/2017 – Walt Disney Company (DIS) Trade Set-Up".
The trade set-up took a little longer than anticipated, however it seems to have worked to perfection.
The Walt Disney Company (DIS)
This first chart for The Walt Disney Company (DIS) is a 1 year daily candlestick chart. It has a Fibonacci Retracement Tool overlaid on DIS' previous uptrend. Moving averages are also on the chart. Since my June 15, 2017 article, DIS' share price pulled right into my expected pullback zone and then reversed higher.
One of the uses for a Fibonacci Retracement Tool is to measure for potential support areas during a stock's pullback or correction. The 50% or 61.8% Retracement Lines are the most common pullback targets. However in strong uptrends that have intentions of going higher, only a 38.2% retracement develops. DIS developed a 50% retracement of its previous uptrend. It looks like a new uptrend has begun.
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I discuss the recent pullback for The Walt Disney Company (DIS) that seems to have started to rebound. Upside price objectives are calculated using Fibonacci Extension Tools and other bullish factors are discussed.
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