Disney waves - Bearish rising wedge pattern - Reversal coming?
Disney seem to be showing a bearish rising wedge pattern. This reversal pattern shows a contraction of the range and indicates that the uptrend is losing strength. Given that all price waves have been 3 wave sequences, which is indicative of a corrective wave, it looks like Disney may be taking a turn for the worse. It looks like from the waves that the next correction after this recent high may be enough to break the wedge's support. If true, then this would then cause the price to break lower out of the wedge.
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