DIS (Disney) is trading inside what most technical analysts would call a "symmetrical" triangle.
Only 2 things might happen with this figure. Either price breaks it (1) or market keeps price trading within (2).
(1) Favours long-term traders and hence, more conservative. For this to take place, just wait for the price to close higher/lower than the last max. and min. respectively and simmultaenously for the price to close further beyond the boundaries of the triangle (if with higher volume, the better).
(2) Favours short-term traders and thus, much more experienced than me (since one here would need to do intraday analysis and be more of a pro than an average trader). Can't say much here but that inside the triangle, price has retraced between 100% - 78.6% in the distribution waves whereas in the accumulation ones it has retraced between 61.8% - 78.6% levels. This could still be the trend inside, so just use fibonacci on the last waves to find those zones, in this case, we would short the stock in the red zone and buy it in the green one.
Overall, the easiest thing to do, is be patient and long on the stock. Wait for rather a breakout than breakdown of the triangle. Mainly because of how the Accum/Distr. is performing and also the price's behaviour at the different retracements levels. If still not sure, wait for a pullback where the price broke it but keep in mind that if it goes over 122, chances of catching any pullback of this figure will be very poor since we'll be at historical max.
Trade at your own discretion and risk
Only 2 things might happen with this figure. Either price breaks it (1) or market keeps price trading within (2).
(1) Favours long-term traders and hence, more conservative. For this to take place, just wait for the price to close higher/lower than the last max. and min. respectively and simmultaenously for the price to close further beyond the boundaries of the triangle (if with higher volume, the better).
(2) Favours short-term traders and thus, much more experienced than me (since one here would need to do intraday analysis and be more of a pro than an average trader). Can't say much here but that inside the triangle, price has retraced between 100% - 78.6% in the distribution waves whereas in the accumulation ones it has retraced between 61.8% - 78.6% levels. This could still be the trend inside, so just use fibonacci on the last waves to find those zones, in this case, we would short the stock in the red zone and buy it in the green one.
Overall, the easiest thing to do, is be patient and long on the stock. Wait for rather a breakout than breakdown of the triangle. Mainly because of how the Accum/Distr. is performing and also the price's behaviour at the different retracements levels. If still not sure, wait for a pullback where the price broke it but keep in mind that if it goes over 122, chances of catching any pullback of this figure will be very poor since we'll be at historical max.
Trade at your own discretion and risk