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Disney's price action


Friday was an interesting day, in terms of confluence, for anyone looking at $DIS.

1. The price rose back to fill that $3 gap left open since early August.

2. Friday's high stopped at the 200 Daily Moving Average which coincides (give or take a few cents) with the 61.8 Fibonacci retracement level from October 2016 low to April 2017 high.

3. Volume was higher than average during the whole week.

4. Friday turned out to be a bearish candle at the top of a steep upward move.

5. The RSI is slightly overbought.

It will be interesting to see how this develops next week.

#DIS

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