DIS - Playing the Mouse for a Bounce

12 Month view of DIS 0.00%↑ . Multi-year drawdowns are not uncommon.

About $8 away from its March 2020 COVID low. The sell-off on this trip down has been much more “orderly” (viewing RSI readings).

The price history of DIS 0.00%↑ following multi-year drawdown periods is very strong. The stock is currently ~10% away from an important historical price level. I’m watching price action around this range for a long entry. If it gets down to $79 and exhibits a more favorable short term trend change around that level, I’d enter with that price point as a stop-out. If it never gets near that level, changing its short term trend sooner, I might also consider entering the long (most likely via option spreads). If it breaks $79, I would look to enter a short position.