CFD Trading – Walt Disney & JP Morgan Chase

Walt Disney Co Stock Code DIS.NYS

Outlook

Price closed below the cloud on Monday night. This could be the start of a downtrend move after Conversion and Base lines had a bearish crossover earlier. Last night’s closing also broke an uptrend line that started from June 2019. The rally higher was also a possible Rising Wedge chart pattern and price has broken below this pattern’s trendline. Price is likely to return back to the base of the Rising Wedge pattern or to the top of the gap area. MACD has also turned bearish and is moving lower, indicating a possible price decline going forward.

Strategy

$136.50 Short Sell
$126.40 Price Target
$140.70 Risk Management Stop
3 weeks Trade Duration

JP Morgan Chase And Co Stock Code JPM.NYS

Outlook

Price dropped and closed below the cloud on Monday night after testing and failing to move above the cloud for the past 4 days. This could be the start of a downtrend move after MACD turned bearish. MACD is now heading lower and this could be indicative of a price decline going forward. Both Conversion and Base lines had bearish crossover earlier before price broke below the cloud. An uptrend line starting from March 2018 was also broken, signaling the end of the end of an uptrend movement.

Strategy

$108.20 Short Sell
$98.10 Price Target
$112.20 Risk Management Stop
3 weeks Trade Duration

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