Tuesday, December 1, 2015

Chart of the Day: Walt Disney $DIS

On November 23 the stock looked over-extended, challenging overhead double top resistance. We had to – at least – assume a healthy pullback was in store following that.
And that’s exactly what we got…
In the days that followed, DIS would pull back from the $119.42 high on November 23 to $113.47 today. That’s more than a $6 drop… And all we had to do was pay attention to our technical reads on momentum.
More downside is expected, DIS could challenge its 50-day.

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