DIS – Disney

This is a 5 year monthly candlestick chart for DIS. At a minimum, DIS appears poised to re-test the $86 low it hit in February 2016. If the low does not hold, the $80 may be next before a bounce occurs. There is a lot of selling volume with DIS over the last several months. All this selling volume is typical at the end of a major Elliott Wave Cycle. I would use any strength in DIS over the next 3 months to exit out of positions.

When you look at a 5 year monthly chart for DIS, let me ask you this….where is the previous support area in this 5 year chart? I really don’t see one either. That may make the $80 and $85 support areas a little more risky to still go long.

• This topic was modified 8 years by Limit5Bass. Reason: removed chart, had wrong chart attached...will be providing an update on DIS shortly