The Walt Disney Co. (DIS) Elliott Wave Analysis - TradingLounge Daily Chart
The Walt Disney Co. (DIS) Daily Chart Analysis
DIS Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave (5) of C
DIRECTION: Top in Wave (5)
DETAILS:
The upward trend that started on April 7 is showing signs of peaking. The projected target for Primary Wave C aligns with Wave A around the $128 price level.
On the daily chart, The Walt Disney Co. (DIS) is approaching the end of a corrective rally, currently forming wave (5) of C. This leg of the rally is structured as a motive wave, stemming from the April 7 low. As wave C converges with the height of wave A near $128, traders should watch this resistance zone closely. If wave (5) completes in this range, it could indicate the conclusion of the corrective cycle and the beginning of a potential market reversal.
The Walt Disney Co. (DIS) Elliott Wave Analysis - TradingLounge 1H Chart
The Walt Disney Co. DIS Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave 4 of (5)
DIRECTION: Upside in Wave 5
DETAILS:
Wave 4 of (5) is currently forming, and another upward movement is expected into wave 5 of (5).
There is also a bullish scenario in which this structure could evolve into wave 1 and 2 of a new upward impulsive sequence.
The 1-hour timeframe for DIS signals that wave 4 of (5) is nearly complete. A final advance into wave 5 of (5) is projected to complete the overall corrective structure of wave C. Alternatively, a bullish wave count suggests the current formation might be the early phase of a new impulsive trend. Should this alternate scenario materialize, DIS stock could surpass present levels, targeting resistance above the $128 mark.
Technical Analyst: Alessio Barretta
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