Disney Technical Analysis - 6/13 Swing trade potential 10%

13. Juni 2020

Disney is in a sweet spot for swing trading over next couple of weeks for a 10%. On a 1d time frame, It's in a upward parallel channel. It's all the way up 0.618 FB 125$-126$, which also acts as a strong resistance and 107$ 0.382FB will act as a support support. A break above 126$ with 2 consecutive trading days, will take this stock to reach all time highs. Now lets take a look at the trading scenario. Also Disney is gonna open up their parks in July, this will add fuel to the run.

Scenario: Current price is close below 0.5FB, Also this is in a parallel channel. IMO 110-113$ is a good entry price with a SL at 107$ ( Close below 107$ for two consecutive days shows the weakness) and target price at 125$-127$

Note : VPVR shows the stock is in Demand zone and current price is above Ichimoku cloud.

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