Disney breaking out?
Disney has been in a bullish pennant formation for awhile now. Price has been squeezing and is ready to make a large move. The Bollinger bands have been squeezing and we've been bouncing off the 50 level on the RSI each time, staying in bullish territory. We're about to get a bullish cross on the TSI which in my opinion would be a signal for another bull run for Disney.
There's still the possibility this is a false break out, but it looks pretty good for now.
There's still the possibility this is a false break out, but it looks pretty good for now.
Note
Looks like a retest of the break out, we will see.PM me if you'd like to join my free trading group, beginner or advanced, it doesn't matter.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.