Stock of the day: Walt Disney
01 October 2024
In today's talk of the day, I would like to discuss Walt Disney, which is showing a promising reversal pattern. As highlighted on the chart, the stock has formed an inverse head and shoulders pattern, marked with blue rectangles. The price has already broken the neckline of this formation, indicated by the green line, which is a strong bullish signal.
Moreover, Walt Disney has also broken the red downtrend line, adding further confirmation of the reversal. With both the neckline and the downtrend line broken, the stock presents a long-term buy signal, and overall sentiment on Walt Disney remains positive.