Nov. 15 at 9:59 PM
$DIS is currently trading at
$105.8, below both the 30-day moving average (MA30) of
$111.57 and the 50-day moving average (MA50) of
$112.79, indicating a bearish trend. The RSI of 36.16 suggests that the stock is approaching oversold conditions, which could lead to a potential reversal or bounce. However, given the recent price action and the proximity to the 60-day low of
$104.91, there is a risk of further downside.
For a trade plan, consider entering a short position at
$105.5, with a stop loss set at
$108 to limit potential losses. Target 1 could be set at
$104.5, just above the 60-day low, while Target 2 could be at
$102, allowing for further downside if momentum continues.
Overall, the directional bias leans bearish, but caution is warranted due to the RSI indicating potential for a bounce.
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