DIS-Canary in the coal mine for the US stock market?

15 thg 1, 2023

Since 1974 Disney has always made a "yearly" higher low as depicted by the red hash marks on this chart.

In 2022 it closed the year below the previous yearly "pullback low"...yikes!!!

Could Disney be an early warning sign of what is to come over the next 10 years for the US stock market? It is a 1900's quintessential "American" company.

Anyone looking to add this to your child's portfolio might want to reconsider...

(Of note: Disney began trading on the NYSE on November 12, 1957 and Trading View begins charting it in 1968 so this chart doesn't show 1957-1968.)

Lastly, I would not recommend starting a short position right now (in fact, the daily chart looks quite bullish right now) however if you are "really" long this company I would take any strong bear market rallies as a chance to reduce or exit your position...there is just too much unknown about what this type of closing implies for the stock IMO.

18 thg 7, 2023

Ghi chú

Hanging on by a thread...DIS must hold the lower yellow trend line. If not, watch out below.

31 thg 12, 2023

Ghi chú

If you went long at major support then DIS must hold ABOVE the 50% to be bullish into and through 2024. SL at 87.25. Technically speaking it is currently holding the .318 and if this holds that is a very good sign for DIS.

2 thg 3

Ghi chú

Disney remains strong after holding it's major support...it has not touched the 50% FIB on a pullback thus far however it is currently sitting just below the 50 SMA on the monthly which may prove a big test for the stock. It will either break above strongly (which would be a buy) or it pulls back BUT hold the 50% on the pull back.