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DIS Likely to Form a Dead Cat Bounce

Written By: ChartChamp

July 1, 2024

DIS has been in a downtrend since forming a strong rejection at the red trendline around $121.88. DIS is currently approaching a key price target at the green trendline around $96.45. This green trendline was previously acting as resistance and could flip into support here. DIS is seasonally bullish in July so there could be some upside in July. However, there is likely to be a bearish trend around Aug-Oct so I think DIS is likely to drop back down after a July rebound especially since the seasonality is bearish in August.

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