{"id":211938,"date":"2024-09-13T10:43:14","date_gmt":"2024-09-13T14:43:14","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=211938"},"modified":"2024-09-16T03:34:36","modified_gmt":"2024-09-16T07:34:36","slug":"chart-advisor-prime-time-for-disney","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-prime-time-for-disney\/","title":{"rendered":"Chart Advisor: Prime Time for Disney"},"content":{"rendered":"\n<p>By\u00a0<a href=\"https:\/\/links.investopedia.com\/u\/click?_t=36ba8fa8372241d58b3bfc06997a4332&amp;_m=40cc65d07fb8450b914c67871fcc26e4&amp;_e=ZHB21fyP2gxcVRP5MNtf2CaSYo7_1rfhfAGJaDBtKvhCJQlhsIqKwboNdl7qOFzXAPHAGVh6blsbM0QxhyRSOTlEP6kM2FnfSHrWNy_1ZWjBzCDjQcs1hFf9NvoFkbPqSLz1UffdiHGEcoDin1TlCEn70MaBtyW3mJxNupXM053vzQ2a3Ptx0Ea0UZYzhxCZ5vKucBFGs9tKjZSdO1CNf53kwtRLlKkQM-MQH7z8mgA-3nWmJbAQeU6h9TUwMOZ05BLAlws9ftYGfEVWAe3jqMY4mg2jlHm37nupHjqxn_rN8AzCabpiXXp22CY-GT1z8iTVP8gMd6gqHMhiKvtA9vfupYzlgTm7EyMW-onxc6ln0d-M-Vvipf8Cn6zH1ImTaO49kHsgsfusamhzzC95HA_64uE5d_gYyZyWnPUaV41SPwqq-v8EQXnLkyhxOCmoUxXijeOM0Gcu6M4NQEqpy3gXEfwPuJj11f93fiI9EAQ%3D\">Jay A. Petit, CMT<\/a><\/p>\n\n\n\n<p><strong>1\/ Not Enough Conviction in Tesla<\/strong><\/p>\n\n\n\n<p><strong>2\/ Game Over for Super Micro Computer?<\/strong><\/p>\n\n\n\n<p><em>Investopedia is partnering with CMT Association on this newsletter. \u00a0The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and may trade or hold positions in securities mentioned herein do not represent the views of CMT Association or Investopedia. Please consult a financial advisor for investment recommendations and services.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-1\">1\/<\/h2>\n\n\n\n<p><strong>Not Enough Conviction in Tesla<\/strong><\/p>\n\n\n\n<p>Tesla is trading within a\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/s\/symmetricaltriangle.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14549744-20240913&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=091324\">symmetrical triangle<\/a>\u00a0which remains in force until the price is able to break out (or breakdown) of it. In other words, a move through support or resistance should determine the next direction of the stock price, currently there is not enough conviction in either direction to determine the outcome.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"634\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9131-1100x634.png\" alt=\"\" class=\"wp-image-211939 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9131-1100x634.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9131-700x403.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9131-300x173.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9131-768x442.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9131-1536x885.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9131.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/634;\" \/><\/figure>\n\n\n\n<p>Once the price is able to move out of this symmetrical triangle, the\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/f\/fibonacciretracement.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14549744-20240913&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=091324\">Fibonacci retracement<\/a>\u00a0levels will come into play. These retracements are arrived at by first measuring a complete trend up or down, in this case the June 2019 to November 2021 advance. These calculated levels then act as support on the way down for price, and once surpassed, they then act as resistance levels. The levels outside the symmetrical triangle are $260 on the way up and $165 on the way down.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2\">2\/<\/h2>\n\n\n\n<p><strong>Game Over for Super Micro Computer?<\/strong><\/p>\n\n\n\n<p>From an all-time high at $1229, SMCI stock price fell (collapsed?) to a low of $382.80, in just 6 months. Can this decline still be considered as a\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/p\/pullback.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14549744-20240913&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=091324\">pullback<\/a>\u00a0within an\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/u\/uptrend.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14549744-20240913&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=091324\">uptrend<\/a>? This could actually be qualified as a reversion to the mean, as the price has now reversed back to the 20-month\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/m\/movingaverage.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14549744-20240913&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=091324\">moving average<\/a>, which has been acting as a dynamic support since 2020.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"634\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9132-1100x634.png\" alt=\"\" class=\"wp-image-211940 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9132-1100x634.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9132-700x403.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9132-300x173.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9132-768x442.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9132-1536x885.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9132.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/634;\" \/><\/figure>\n\n\n\n<p>As long as the price trades above the $380\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/z\/zone-of-support.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14549744-20240913&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=091324\">support zone<\/a>, which represents the current month low as well as a\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/f\/fibonacciextensions.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14549744-20240913&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=091324\">Fibonacci extension<\/a>\u00a0taken off the February 2015 to October 2018 decline, it is not game over yet for Super Micro Computer.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3\">3\/<\/h2>\n\n\n\n<p><strong>Prime Time for Disney<\/strong><\/p>\n\n\n\n<p>Disney is currently at a very interesting junction.&nbsp;<\/p>\n\n\n\n<p>Last month, the price was able to bounce off an uptrend line in place since the price made a low in 1974 (you read correctly). The stock bounced off this uptrend support on another 3 occasions, twice in 1984 and once again in 2009. This could suggest that the cyclical decline is over and structural uptrend can resume.<\/p>\n\n\n\n<p><br>At the same time, the price action over the last 10 years (remember, this is a monthly chart, we are looking at the long-term picture) created a\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/r\/roundingtop.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14549744-20240913&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=091324\">rounding top<\/a>\u00a0pattern, which, if completed, i.e. the price breaks below the $78.50-$79 support area, could extend the decline since its March 2021 price high, sending the stock at levels not seen since 2011!\u00a0\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"634\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9133-1100x634.png\" alt=\"\" class=\"wp-image-211941 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9133-1100x634.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9133-700x403.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9133-300x173.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9133-768x442.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9133-1536x885.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9133.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/634;\" \/><\/figure>\n\n\n\n<p>As the price is still trading above its long term trendline support, the structural uptrend is given the benefit of the doubt.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally posted 13th September 2024<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Jay A. Petit, CMT 1\/ Not Enough Conviction in Tesla 2\/ Game Over for Super Micro Computer? Investopedia is partnering with CMT Association on this newsletter. \u00a0The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and [&hellip;]<\/p>\n","protected":false},"author":186,"featured_media":211942,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[18,6,8,9,22,23,26,3],"tags":[2763,17679,156],"contributors-categories":[13686],"class_list":{"0":"post-211938","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-macro","8":"category-north-america","9":"category-region","10":"category-securities","11":"category-stocks","12":"category-technical-analysis","13":"category-text-articles","14":"category-traders-insight","15":"tag-disney","16":"tag-smci","17":"tag-tsla","18":"contributors-categories-investopedia"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chart Advisor: Prime Time for Disney | Traders&#039; Insight<\/title>\n<meta name=\"description\" content=\"Disney is currently at a very interesting junction.\u00a0Last month, the price was able to bounce off an uptrend line in place since the price made a low in...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/211938\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart Advisor: Prime Time for Disney | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"Disney is currently at a very interesting junction.\u00a0Last month, the price was able to bounce off an uptrend line in place since the price made a low in 1974 (you read correctly). 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