DIS Elliott Wave Analysis Trading Lounge Daily Chart,The Walt Disney Co., (DIS) Daily ChartDIS Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {iii} of 1.DIRECTION: Upside in wave 1.DETAILS: The longer term counts presents some challenges as it is yet unclear whether or not the longer correction is completed or not. If we are to start trading above 100$ we could gain additional confluence in the upside resumption.(Click on image to enlarge)The Walt Disney Co., (DIS) 1H ChartDIS Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave (iii) of {iii}.DIRECTION: Top in wave (iii).DETAILS: Looking for upside in wave (iii) as we can see a nice five wave subdivision. Looking for a potential top as we approach equality of (iii) vs. (i) at 101$, knowing 1.618 at 105$ could also be reached.(Click on image to enlarge)In this Elliott Wave analysis, we will review the trend structure of The Walt Disney Co., (DIS) using both the daily and 1-hour charts to assess the current wave position and potential price movements.* DIS Elliott Wave Technical Analysis – Daily Chart*The daily chart suggests that Walt Disney Co. is in the third wave ({iii}) of a larger wave 1 to the upside. However, there is still uncertainty regarding whether the broader correction has fully concluded. Trading above the $100 level would provide further confirmation of a potential longer-term uptrend. A break above this level would add confluence to the idea that a new bullish trend has begun, solidifying the wave count.* DIS Elliott Wave Technical Analysis – 1H Chart*The 1-hour chart is currently tracking wave (iii) of {iii}, with the potential for further upside. A nice five-wave subdivision can be observed in this wave, suggesting that the impulsive nature is intact. A possible top is anticipated as the price approaches equality between wave (iii) and wave (i) at $101. Additionally, the 1.618 Fibonacci extension for this wave stands at $105, which could also be a significant level to watch as the market potentially reaches the final stages of this wave.More By This Author:
The Walt Disney Co. Stocks Elliott Wave Technical Analysis
