Disney Momentum Trade

Updated: 17 Aug 2021

Disney has strong fundamentals and its theme park business is expected to benefit as we come out of lockdown. We're long as long as price stays above the key $166 support zone with a target of $204

Reasons for this trade:

  • Uptrend established since March 2020 remains intact
  • Long term moving average price is rising and acting as support
  • The $166 price level has been tested as support and cleanly rejected several times
  • Stoch RSI is oversold on the weekly and looks ready to start rising
  • Potential upside to $204 is a great risk /reward play

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