11.08.202315:19 Forex Analysis & Reviews: DISNEY stock price close to a weekly break out.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Red line- resistance

Blue line- support

The triple bottom around $85-$86 has been followed by a strong upward move towards $92 yesterday. DISNEY stock price has been trading mostly sideways over the last few Months as price has made no real progress. Key support around $85 has been respected for many months and at the same time bulls were unable to break above the red downward sloping resistance trend line. The combination of the break of the red trend line with the bounce off the blue support trend line is a bullish signal, signalling a very probable trend reversal and the start of a new upward move. Price action over the last few months has confirmed the importance of the blue support trend line. As long as we hold above it, bulls have hopes for a trend reversal. DISNEY stock price has upside potential towards $103 and even higher.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.