Skip to main content

Walt Disney Co. (Friday’s close US$116.21) traded in a large triangle formation made up of lower highs and higher lows for about three years (dashed lines).

The recent rise above the top of this formation (A) suggests a breakout and renewed investor interest. A rise above ±$122 (A) would signal the start of a new up-leg.

Behaviour indicators including the 40-week Moving Average (40wMA) and the rising trend-line (solid line) confirm the bullish potential. Only a sustained decline below $107-108 would be negative.

Point & Figure measurements suggest targets of US$135 and US$145. The large triangle formation (dashed lines) supports significantly higher targets.

Open this photo in gallery:

Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

Chart source: www.decisionplus.com

Report an editorial error

Report a technical issue

Editorial code of conduct

Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 21/11/24 6:30pm EST.

SymbolName% changeLast
DIS-N
Walt Disney Company
+0.4%114.72

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe