Disney is one of the few legacy media companies that still has more room to fall.
From an Elliot wave perspective, This looks like an ABC correction forming after completion of a 5th wave.
Structure wise, this would also form a macro head and shoulders.
The measured move from the head to the neckline would place the bottom of the corrective wave (c) around the .786 fib level. That would be nearly half the companies value.
From a TA point of view, its not looking good for "The Happiest Place on Earth".
Not financial advice
Do your own DD
Novice Here
From an Elliot wave perspective, This looks like an ABC correction forming after completion of a 5th wave.
Structure wise, this would also form a macro head and shoulders.
The measured move from the head to the neckline would place the bottom of the corrective wave (c) around the .786 fib level. That would be nearly half the companies value.
From a TA point of view, its not looking good for "The Happiest Place on Earth".
Not financial advice
Do your own DD
Novice Here
