The Walt Disney Company, (DIS) Trading Lounge Daily Chart

In this DIS Elliott Wave Analysis for February 15, 2024, we delve into the technical intricacies of The Walt Disney Company's (DIS) daily and 4-hour charts. By employing Elliott Wave Theory, we aim to uncover potential trends and trading opportunities for DIS stock.

DIS Elliott Wave Technical Analysis

Function: Trend

Mode: Impulse

Structure: Motive

Position: Minute wave {i} of 3

Direction: Potential correction into wave {ii} of 3

Insight: Our analysis indicates a promising trend for DIS, characterized by a motive structure. Currently, the stock appears positioned at minute wave {i} of 3, suggesting potential upside momentum. We anticipate a correction into wave {ii} of 3, with the expectation of at least a three-wave move to the upside. Notably, DIS maintains its stance above key levels, including equality of 3 vs. 1 and Trading Level $100, bolstering the case for further upward movement.

The Walt Disney Company, (DIS) Trading Lounge 4Hr Chart, 15 February 24

DIS Elliott Wave Technical Analysis:

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave (b) of {ii}

Direction: Downside into wave (c) of {ii}

Insight: Contrary to the daily chart, our analysis of the 4-hour chart suggests a counter-trend scenario for DIS. Here, we identify a corrective structure, specifically a flat pattern, with the stock positioned at wave (b) of {ii}. Our expectation leans towards a downside movement into wave (c) of {ii}. However, we acknowledge the possibility of alternative scenarios, such as wave (iv) or higher degree wave {iv}, potentially extending towards 1.618 of wave 3 vs. 1.

Technical Analyst: Alessio Barretta

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See Previous: Coca-Cola Company (KO)

Welcome to our DIS Elliott Wave Analysis Trading Lounge, your premier destination for comprehensive insights into The Walt Disney Company (DIS) using Elliott Wave Technical Analysis. As of the Daily Chart on 15th February 2024, we uncover significant trends guiding the market.

* DIS Elliott Wave Technical Analysis – Daily Chart*

In terms of wave dynamics, we discern a dominant impulse function with a motive structure. The current position is in Minute wave {i} of 3, indicating a potential correction into wave {ii} of 3. Our focus is on anticipating at least a three-wave move to the upside, manifesting either in a motive structure (123) or a corrective one (ABC). Notably, we stand above the equality of wave 3 versus wave 1, as well as above the Trading Level of $100, suggesting ongoing support and potential for further upside movement.

* DIS Elliott Wave Technical Analysis – 4Hr Chart*

Here, the wave function shifts to a counter trend approach with a corrective mode, reflecting a flat structure. The present position is in Wave (b) of {ii}, indicating a downside movement into wave (c) of {ii}. We anticipate another leg lower into wave (c) of {ii} as the main count. However, if this count proves incorrect, we consider the possibility of being in a wave (iv) or even a higher degree wave {iv}, potentially extending towards 1.618 of wave 3 versus wave 1.