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Disney DIS Slides to New Highs on Divergences March 20

Mon, Mar 20, 2:21 PM ET, by Corey Rosenbloom

Disney (DIS) continues to be a “strong stock getting stronger” which is evidenced by today’s creep-up to a new 52-week high.

Let’s chart the creeping uptrend that took us back to the new swing high of $113 per share.

When “strong stocks get stronger” like Disney, they often leave a trail of negative divergences to the highs.

That’s what’s happening now.

Our first principle of price behavior states that “Trends, once established, have greater odds of continuing than of reversing.”

We use specific stock scans to find strong-trending candidates like these.

However, you’ll note another principle that the strongest moves – and thus the most efficient (higher probable) opportunities come at the beginning of the birth of a new trend.

At a new trend, we often see the strongest momentum and volume readings, and thus we want to focus our efforts on buying pullbacks (note blue ‘flag’ lines) as the uptrend matures.

This is the core of our effective “Trending and Pullback” lesson series and strategies.

We want to be cautious – find other candidates – when negative divergences overtake a strong but mature uptrend.

Nevertheless, Disney (DIS) continues its magical journey higher.

Continue following this popular stock along with others in similar patterns at new swing highs.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey's book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).”

blog.afraidtotrade.com


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This Article's Word Cloud:   Afraid   Corey   Disney   Follow   Nevertheless   Premium   Trade   Twitter   Wiley   adsbygoogle   afraidtotrade   along   also   another   birth   buying   candidates   come   continues   creeping   divergences   find   from   happening   high   higher   highs   like   negative   note   often   presentation   principle   reversing   stock   strong   stronger   strongest   swing   that   these   thus   time   took   trend   uptrend   want   what   which   with

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Disney DIS Slides to New Highs on Divergences March 20 | Self Directed Investor | Copyright © 2008 - 2017, All Rights Reserved

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