$Disney (DIS.US)$ Disney is still trading at the low of the ...

$Disney (DIS.US)$
Disney is still trading at the low of the consolidation zone at 170s. It has not broken the 167 support as mentioned few days back. In fact it keeps rebounding everytime it gets near.

This is a sign of bullishness and the risk to reward ratio for Disney is exceptionally tempting at this point as your stop loss can be set below 167 while take profit zone will be top of consolidation zone at either 180 or 187.

However if you are a long term bull of Disney, there is almost no reason for you to wait as it is a good reason to buy now that it is at bottom of consolidation zone. It may drop and break through 167 support. But if you are long term bullish, you probably already believe it will recover past that price point in the future. However if it doesn't break down but instead breaks upward, you will be missing out on the bargain price.

Amazon which I did a technical analysis few days back together with Disney has bounced off the support and gained 2.75% yesterday. It was in a similar situation to Disney sitting above support for couple of days. Tried breaking through and kept rebounding closing the day above it.

Will the same thing happen to Disney soon? I cant guarantee. But the odds are definitely there.

As always, trade safe & invest wise!