Walt Disney Company Stock Code DIS.NYS
Outlook
Price declined to a low of $131.02, which was a strong support level, and has recovered to the lower edge of the cloud. Price is currently capped by the lower edge of the cloud. As price is below the cloud, we think this current rally could be a corrective rally. MACD is bearish with both its lines below the zero line. MACD confirms the corrective price rally. The price rally is capped by the Fibonacci 50% to 62% correction zone of the decline from a high of $147 to the low of $131. As long as price stays below the cloud, we think it is likely to move lower to $126.14. A move above $143.80, which is just above the upper cloud edge, would negate our bearish view.
Strategy
$139.30 Short Sell
$126.20 Price Target
$144.00 Risk Management Stop
3 weeks Trade Duration
United Technologies Corp Stock Code UTX.NYS
Outlook
Price has been on an uptrend, climbing higher and higher since starting that uptrend movement back in late Dec 2018. Since breaking above the cloud, price has been climbing and had stayed above the above the cloud. Price is above the cloud and above both the Conversion and Base lines. This is a sign of a strong bullish trend. This bullish trend is confirmed by the Lagging Span, which is above price of 26 days ago as well as above the cloud. The three pillars of a stable trend are all in place. Two days ago, price broke above its high at $58.80 and yesterday, price stayed above that high maintaining the bullish uptrend. MACD is bullish and both its lines are the zero line, which is a sign of a strong bullish trend.
Strategy
$134.20 Buy
$140.60 Price Target
$129.60 Risk Management Stop
3 weeks Trade Duration
