Not only „Goofy can’t be stopped“, but also the downward trend at Walt Disney. Until now. Yesterday the bulls actually managed to touch the EMA 200 in the daily chart for the first time in months. That is definitely a clear sign of life!

Although we haven’t won much yet. The prices are now where they were between May and August this year. Now one thing is interesting: We are exactly at the lowest price of March 13, 2023. Prices bounced back up there at the time.

Walt Disney in the daily chart In blue you can see the EMA 50. In green we have the EMA 200. What you will certainly notice right away: The EMA 200 was already the lid on May 8th. The prices rose to that point and then fell by about 20 US dollars to the last low of 78.78 US dollars.

(Source: Tradingview.com)

The RSI under the chart still leaves room for growth. That is to say: We are by no means overbought and that is now giving hope. If we were already at the upper end of the indicator, things would obviously look bad for the bulls.

But now we have a real chance that the prices will not only cuddle with the EMA 200, but maybe also quote over it in the near future and above all stay there!

How high can Walt Disney go up? We also have a price gap on offer. This was broken after May 10 of this year. The closing price was then 101.14 US dollars. As a result, the prices only rose to 95.11 US dollars. In the range around 95 US dollars, there is thus a possible first target for the bulls.

That would certainly be an achievement from the current point of view. Until recently there was nothing but lower lows and a hurdle at around 86 US dollars. This was finally overcome recently. Of course by a gap. Such things often happen when buyers keep running into the same wall. That’s what the chart looks like now.

Should we close the price gap? If the stock market were a wish concert, then I would say: Yes! Otherwise, this price gap might have some attraction that the bulls won’t like. A setback to 85 US dollars and then another rally would be perfect in this regard. The chance that this will happen is however very low in my opinion.

In most cases we are now running a bit to the side at this level before the next direction sets in. It is quite possible that it will then continue to go up. The last few weeks look like a nice bottom.