THE WALT DISNEY CO.: CANDLESTICK ANALYSIS

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THE WALT DISNEY CO.: CANDLESTICK ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY STOP
Entry Point104.00
Take Profit110.08, 116.63, 123.32
Stop Loss101.53
Key Levels88.56, 94.05, 99.10, 103.97, 110.08, 116.63, 123.32
Alternative scenario
RecommendationSELL STOP
Entry Point99.05
Take Profit94.05, 88.56
Stop Loss101.53
Key Levels88.56, 94.05, 99.10, 103.97, 110.08, 116.63, 123.32

The Walt Disney Co., H4

On the four-hour chart, the formation of reversal patterns of candlestick analysis: Morning Star, Bull Engulfing Pattern, and Hammer are developing at the support level of 99.10, the combination of which reflects the price reaching the area of ​​low prices and signals an imminent trend reverse upwards. The positive dynamics may develop to the key resistance level of 103.97. After the breakout, the asset may reach the area of ​​110.08–123.32. In case of a breakdown of the support level of 99.10, the decline may continue to 88.56.

THE WALT DISNEY CO.: CANDLESTICK ANALYSIS

The Walt Disney Co., D1

On the daily chart, the trading instrument forms reversal candlestick patterns Bull Harami, Bull Engulfing Pattern, and Morning Star at 99.10–101.53, reflecting the weakening downward potential.

Most likely, the quotes will try to overcome 103.97 soon, after which, they may grow to the region of 110.08–123.32.

THE WALT DISNEY CO.: CANDLESTICK ANALYSIS

Support and resistance

Resistance levels: 103.97, 110.08, 116.63, 123.32.

Support levels: 99.10, 94.05, 88.56.

Trading tips

Long positions may be opened above 103.97, with the targets of 110.08, 116.63, and 123.32. Stop loss – 101.53. Implementation period: 7 days or more.

Short positions may be opened below 99.10, with the targets of 94.05, and 88.56. Stop loss – 101.53.


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