Disney: Two Scenarios

1 мар.
For Walt Disney, chart analysis reveals the completion of a first cycle with an all-time high at $203, followed by what appears to be a 5-wave structure downward towards Wave (A), concluding at a double bottom with Wave (4) at $79. This formation is characteristic of a Wave 2, yet its brevity on the 3-day chart suggests a potential flat correction. Anticipation exists for a rise in the coming weeks to $126.50, where Wave A is expected, adhering to a zigzag correction pattern (5-3-5 waves). This suggests a cautious bearish stance until a breakout above $176.88, which would invalidate the current long term bearish scenario.

The 4-hour chart indicates the potential formation of a 5-wave structure upward towards Wave A, but the market's direction—whether indicating strength or weakness—will determine the approach to positioning for Wave 4. Further observations are needed before committing to new positions, with decisions to be made based on clearer market signals