Wednesday, 9 September 2015

DIS - opening reversal

The US equity market - along with Disney (DIS) started the day on a very positive note (intra high $104.99), but DIS saw a rather classic opening black-fail candle on the hourly cycle, and unravelled across the day, settling -2.0% @ $101.91. Near term outlook is for renewed upside to the 106/108 zone.


DIS' daily


Suffice to note... DIS needs to hold the $101s for the remainder of this week, otherwise next support is not until the low $99s.

*I am long DIS from this afternoon, from the $102s...  a few hours too early. Seeking an exit in the 104.50/106.00 zone by next Mon/Tuesday.