DIS daily
DIS monthly
Summary
Suffice to add, the recent break of support of $100/99 is a key issue. From a Sept' 7th low of $96.20, the stock has bounced to $98.95. Today's wave lower has taken the stock to the edge of provisionally confirming what is a bear flag.
Seen on the larger monthly chart, Disney is currently net lower for the fourth month of the past five. On any basis, the mid term trend from April is bearish. Further weakness to the next soft psy' level of $90 - where the lower monthly bollinger is near, is a valid target for October.
To be clear, I like the company, not least as it owns the two money making franchises of Marvel and Star Wars. Technically though, its a broken stock, and weakness into October is highly probable, not least if the main market sees a minor correction of 4-5%.
