DIS Elliott Wave Analysis Trading Lounge Daily Chart,

The Walt Disney Co., (DIS) Daily Chart

DIS Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave {iii} of 1.

DIRECTION: Upside in wave 1.

DETAILS: The longer term counts presents some challenges as it is yet unclear whether or not the longer correction is completed or not. If we are to start trading above 100$ we could gain additional confluence in the upside resumption.

(Click on image to enlarge)

The Walt Disney Co., (DIS) 1H Chart

DIS Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave (iii) of {iii}.

DIRECTION: Top in wave (iii).

DETAILS: Looking for upside in wave (iii) as we can see a nice five wave subdivision. Looking for a potential top as we approach equality of (iii) vs. (i) at 101$, knowing 1.618 at 105$ could also be reached.

(Click on image to enlarge)

In this Elliott Wave analysis, we will review the trend structure of The Walt Disney Co., (DIS) using both the daily and 1-hour charts to assess the current wave position and potential price movements.

* DIS Elliott Wave Technical Analysis – Daily Chart*

The daily chart suggests that Walt Disney Co. is in the third wave ({iii}) of a larger wave 1 to the upside. However, there is still uncertainty regarding whether the broader correction has fully concluded. Trading above the $100 level would provide further confirmation of a potential longer-term uptrend. A break above this level would add confluence to the idea that a new bullish trend has begun, solidifying the wave count.

* DIS Elliott Wave Technical Analysis – 1H Chart*

The 1-hour chart is currently tracking wave (iii) of {iii}, with the potential for further upside. A nice five-wave subdivision can be observed in this wave, suggesting that the impulsive nature is intact. A possible top is anticipated as the price approaches equality between wave (iii) and wave (i) at $101. Additionally, the 1.618 Fibonacci extension for this wave stands at $105, which could also be a significant level to watch as the market potentially reaches the final stages of this wave.

More By This Author:

Unlocking ASX Trading Success: QBE Insurance Group Limited
Elliott Wave Technical Analysis - NIKKEI 225 Index
NEO Crypto Price News Today Elliott Wave Technical Analysis 8