Can DIS hold these levels

Alright folks, let’s take a look at the Wonderful World of Disney ticker is di s and the question of the day is can Disney hold candy is hold. So what we’re seeing here is a 123 bottom formation here on the daily chart we have recently met it’s 123, top objectives one and two. And now we’re trading at longer term support structure. So we have kind of slowly grind our way down here into the 618. retracement longer term off the weekly down here at the 128 130 level. Now we can see we started to print a 123 back here in late March, we did pop above, briefly, basically one or two days here above that number two here at 140. And then roll back over. So this right here doesn’t meet my test for a couple of reasons. One, I like to see it break above the number two and then hooked back up above and number two, which we obviously did not get we popped up, and then we roll back down. So I like to see a pop up and either a retest and the head that retest hold or have the market come back up, which we did not do. And then secondly, we have long term weekly resistance. So we can see here on the both basically both the weekly and daily chart, we have a trend line. So let’s just kind of clean this trend line up here. And longer term, our trend line is going to really look like this. So we’d be trading into trendline resistance now I think the question again is can Disney hold and basically seeing two lines in the sand this area where we are now where we’re printing new number one lows for potential 123 Back to the upside, or if this area fails, we’re looking at a potential move down to the 1051 10 area which would be a 786 retracement. So we are getting bullish divergence signals on the weekly we’re getting new fresh 123 bottoms. Really what I’ll be watching for is how this develops. If we get our 123 looking like this into resistance, I will want to wait until we clear that longer term structure resistance right here. However, if we get a smaller 123 in that area holds I’ll look to take a quick trade expecting that trend line to possibly be resistance but so we’ll see how this one plays out. Now I’m going to be talking about this in my free presentation on Wednesday, April 25 APM three point price action formula to spot market reversals. I’m going to talk about more in depth what I just went over across all markets and all timeframes. So it’s really perfect for swing traders. Day traders, scalpers, you name it, whether you trade stocks, futures options, or even crypto. I’m gonna hyperlink you to this page, click the orange button and I look forward to seeing you there.