‚Äč Disney (NYSE: DIS) Impulsive Structure is Supporting Further Rally
Elliottwave-forecast of ElliottWave-Forecast - InsideFutures.com - Tue Aug 13, 8:59AM CDT

Disney (NYSE: DIS) Impulsive Structure is Supporting Further Rally

Disney (NYSE: DIS) surged to new all time highs in April 2019 confirming the breakout of the consolidation range that lasted for 3 years.

The rally from December 2018 low unfolded as an impulsive 5 waves structure which is part of the weekly cycle from 2016 low. The cycle ended on July peak from where a correction lower has started looking ideally for a 3 waves zigzag structure which can take the stock toward $129 $123 area before the stock either resume the rally higher or bounce in 3 waves at least.

Disney DIS 4H Chart 08.10.2019

DIS Daily 8.10 Disney

However, if DIS manage to rally higher without doing another leg lower, then the correction could have ended as a 3 waves flat structure so in that case the stock will remain supported above August low and it would aim for a move higher toward $150 $156 area .

Disney DIS 4H Chart ( Aggressive View) 08.10.2019

DIS Daily Flat 8.10 Disney

In conclusion,Disney has bullish impulsive structure supporting the stock to find buyers in 3 or 7 swings pullback against December 2018 low $100 and it will be looking to make new all time highs after ending the current 4H correction.


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