Last post on DIS: https://bartscharts.com/2023/01/23/disney-dis-january-23-2023/
HUGE support from 62-77 … the .618 is from the all time low, we have the long term trend line from 50+ years ago and the “next” measured move correction (dashed red arrow – remember this is log scale), also take note of the two ABCD projections (orange and yellow) smacking into the 3.142 (PI) projection, square root of 2 (1.4142) extension and the square root of 1.618 (1.27) extension.
75-78 is pretty important …
Last, a GUIDELINE and NOT a rule is that corrections like to target the “4th wave of a lesser degree” and you can see that comes right in where .. yup, our target zone.
So, from a balance, form and proportion this correction doesn’t look done or over BUT that zone should be some nice support.
NOTE: looking at it on a monthly, looks like we might have a three drives to a bottom setting up …
TBD.
