Walt Disney Company Stock Code DIS.NYS
Outlook
Price moved above the cloud recently, confirming a bullish price trend. However, price had a bearish Engulfing candlestick pattern yesterday. This is a hint of a reversal in price trend. MACD showed a bearish divergence as well, also hinting of a price top. While price is above the cloud as well as both Conversion and Base lines, hinting of a bullish trend, the candlestick pattern coupled with the MACD divergence could be a warning that the bullish price trend is due for a reversal. Besides these 2 warnings, price movement upon breaking above the cloud was also weak as shown by the sideways movement. We think there could be a correction of the recent price rally. We think price could go lower to $106.20
Strategy
$111.80 Short Sell
$106.20 Price Target
$114.02 Risk Management Stop
2 weeks Trade Duration
Pfizer Inc. Stock Code PFE.NYS
Outlook
Price has been capped by the cloud moving lower over the past 4 trading days. However, yesterday we saw a Piercing Line candlestick pattern which also closed more than 50% into the previous candlestick body. This could be a sign that the price pullback after hitting the cloud resistance could be over. Price could be resuming its previous rally which was triggered by a bullish divergence from MACD as well as a bullish Engulfing candlestick pattern back on 29th Jan 2019. As long as price stays above Base line support at $41.30, there is a good chance of price moving up to $44.95 which is the Fibonacci 161.8% of the previous price rally from 29th Jan to 1st Feb 2019.
Strategy
$42.10 Trading Buy
$44.95 Price Target
$41.10 Risk Management Stop
2 weeks Trade Duration
