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DIS Elliott Wave Analysis Trading Lounge Daily Chart, 15 February 2024

The Walt Disney Company, (DIS) Daily Chart

DIS Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulse

STRUCTURE: Motive

POSITION: Minute wave {i} of 3.  

DIRECTION: Potential correction into wave {ii} of 3.  

DETAILS: We are looking for at least a three wave move to the upside in either a motive structure(123) or corrective (ABC). Right now we stand above equality of 3 vs. 1, as well as above Trading Level 100$ and as we keep finding support we could expect further upside.

Technical Analyst: Alessio Barretta

DIS Elliott Wave Analysis Trading Lounge 4Hr Chart, 15 February 2024

The Walt Disney Company, (DIS) 4Hr Chart

DIS Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Flat

POSITION: Wave (b) of {ii}.  

DIRECTION: Downside into wave (c) of {ii}.

DETAILS: We are looking for another leg lower into wave (c) of {ii} as the main count. If that proves to be incorrect, then we could be in some sort of wave (iv) or even higher degree wave {iv} and extend towards 1.618 of wave 3 vs. 1.  

Welcome to our DIS Elliott Wave Analysis Trading Lounge, your premier destination for comprehensive insights into The Walt Disney Company (DIS) using Elliott Wave Technical Analysis. As of the Daily Chart on 15th February 2024, we uncover significant trends guiding the market.

* DIS Elliott Wave Technical Analysis – Daily Chart*

In terms of wave dynamics, we discern a dominant impulse function with a motive structure. The current position is in Minute wave {i} of 3, indicating a potential correction into wave {ii} of 3. Our focus is on anticipating at least a three-wave move to the upside, manifesting either in a motive structure (123) or a corrective one (ABC). Notably, we stand above the equality of wave 3 versus wave 1, as well as above the Trading Level of $100, suggesting ongoing support and potential for further upside movement.

* DIS Elliott Wave Technical Analysis – 4Hr Chart*

Here, the wave function shifts to a counter trend approach with a corrective mode, reflecting a flat structure. The present position is in Wave (b) of {ii}, indicating a downside movement into wave (c) of {ii}. We anticipate another leg lower into wave (c) of {ii} as the main count. However, if this count proves incorrect, we consider the possibility of being in a wave (iv) or even a higher degree wave {iv}, potentially extending towards 1.618 of wave 3 versus wave 1.

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