Walt Disney (NYSE: DIS) Long Term Technical Analysis February 2019

DIS Long-term outlook

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ESPN has been the major topic to discuss several years as customers slowly cutting the cable and choose streaming services. At first, the company decides to stream its show on Netflix, but the situation change when Disney announced it will launch its own streaming services by 2019. We now have disney+, and Netflix officially canceled all of its Marvel series.

Under strong subscription, Disney set to accelerate its growth this year. Moreover, we will have the two most anticipated movies launch this year, “Frozen 2” and “Star Wars IX”. Investors could count down until 4th October where both movies merchandise will hit the market.

New Month

Monthly chart

The monthly chart of DIS shows us a strong bullish pattern. We could see an ascending triangle formation with the top around $116.00 – $122.08. The pattern span from 2015 and might continue for several months or years. Under the current situation, traders could use the bottom of the triangle to look for long positions. Short positions near the top of the triangle also options trader could take while waiting for a breakout.

Weekly chart

DIS share prices launch after the test of weekly SMA 200. It uses WSMA 50 as a support level and currently getting near $116.00 – $122.08 area. The outlook is similar to the monthly chart and trader suggested waiting until rejection or breakout happen from $116.00 – $122.08 area.

Daily chart

We have a strong bullish run on DIS daily chart after the share prices bounce from daily SMA 200. No reason to take short positions yet as there is no bearish candlestick nor bearish pattern on the chart. A strong rejection from $116.00 – $122.08 and a close below trendline might become the start of the bearish leg.

Trade plan

Bullish trade, waiting near the bottom of the triangle shown on the monthly chart is the best options traders could take.

Bearish trade, wait until there are reactions from $116.00 – $122.08 area. Shorting near the level will have the bottom of the triangle as a target.

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