Disney over-extended? We look to Sell at 129.37 (stop at 134.80)
We look to Sell at 129.37 (stop at 134.80)
Upward pressure has continued and we are assessed as being in the corrective leg before the next selloff. Preferred trade is to sell into rallies. Our outlook is bearish. There is scope for mild buying at the open but gains should be limited. News events could adversely affect the short term technical picture.
Our profit targets will be 112.82 and 102.30
Resistance: 130.00 / 144.00 / 155.00
Support: 110.00 / 100.00 / 90.00
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