Walt Disney Co (DIS)

[mick]

DISNEY, latest consolidation phase in the stock since the April highs has developed a head-and-shoulders pattern, which if triggered leaves plenty of downside room for the stock. In fact, technically speaking, if this pattern triggers, DIS stock could re-test its previous breakout area in the high $110’s. To be clear, this is not my base case, but I did want to highlight this as a possibility through a pure technical lens.