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Todays Big Stock Wealthpop News

This Media Giant Just Hit A 52-Week Low And Could Be Headed Lower


It’s no secret that Disney (DIS) has been on the struggle bus for quite sometime now, finally hitting a 52-week low last week. Now, traders and investors brace for another week of what looks to be a bit more rough sledding for the media company.

After breaking a key support level and yearly low, the media giant looks to want to go lower given the state of the overall market and the higher volume that came with this push lower through that key support level. Traders looking for a short play might want to keep this stock handy as we enter the new week of trading.

To play devil’s advocate for just a minute and to examine what could invalidate this trade, a push above and close back above this 85 mark could signal a false breakdown and lead to higher prices, even if only temporarily. Still, odds seems to favor a bit more of a slide here given the trend and manner in which that level was broken.

for those who have a bit longer of a time horizon on their trade could enter a swing here with a stop just above the 85 mark, managing risk for the event this was a false breakdown. Those who want to possibly wait for a relief push back toward 85 could wait for that to happen then enter the trade as they look for a reject of this level.

If you like The Profit Machine (TPM), then you will really like my Wednesday Profit Room trading service. Same high-quality options action, as well as more world-class trading education. As I say, the more screen time and education you expose yourself to, the better. Give it a try for one month here and if you don’t find even more value, cancel anytime. Your success as a trader is on the other side of hard work and education, will you be willing to put in the work with me as your guide? Give it a try today!

Good Luck With Your Trading!

Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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