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June 6 Chart of the Day - Disney

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

The next wave of Disney (DIS) theme park expansion in the U.S. is primed to be in California rather than Florida. The global entertainment giant plans to invest $60B in parks and cruises during the next decade.

Since we last featured Disney back in May 2023 price went down about 15%, recovered to rise from there about 15% but is now essentially back in the same area having spectacularly gone nowhere for the buy and hold investors that were already in.

Much has been written the past several months regarding the internal board level grand standing so we wanted to review their chart again from a price action technical analysis perspective.

We have featured over 220 Charts of the Day during the past year and teach Price Action Trading for FREE  to traders who join our Highly Rated Trade Room.

Monthly Chart 

Disney monthly price action technical analysis review


On the monthly chart we can see that price has repeatedly crossed a change control zone (gray rectangle) during the past decade.

Change control zones are one of the five price action tools we teach when charting anything.  By definition, they are an area that represents where neither the bulls nor bears are in charge.  Price can slash though the zone with seemingly reckless abandon, price can respect the top or bottom from outside it or within it.  Or, price can trade aimlessly sideways within it.  When price breaks away from the zone it can often get drawn back to it like a magnet. And in this case we see all of the above are true.

Weekly Chart

Disney weekly price action technical analysis review

 
On the weekly chart we can see with much more clarity how price reacts in and around the change control zone.

Trading at $101.20 earlier today price seemingly has been hanging on to big round number $100 level the past few weeks.  While it shouldn't be a surprise if price loses that level and makes a run down to the structure sitting below there the longer term buy and hold investors wouldn't be happy with that...

We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans.

So what's next? 

We don't make predictions...

Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.

  1. Support/Resistance
  2. Trend
  3. Fibonacci 
  4. Supply/Demand Zones,
  5. Change Control Zones

ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.

Take a look at the charts and let us know what you think.  

We'd like to hear from you in the comments sections.

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