Some theme parks are finally taking steps to open up and this can bring much-needed support to Disney's collapsed stock. On Wednesday it was reported that Walt Disney and its subsidiaries Comcast Universal Studios and SeaWorld Entertainment will start presenting their plans to open their theme parks in Orlando on Thursday. It is said that Universal will announce its plans to open on Thursday and the rest later.

Disney, H4

Pivot: 119.92

Analysis:

Provided that the asset is traded above 117.70, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 119.92
• Take Profit 1:  123.29
• Take Profit 2: 124.97

Alternative scenario: 

In case of breakdown of the level 117.70, follow the recommendations below:

• The timeframe: H4
• Recommendation: short position
• Entry point: 117.70
• Take Profit 1: 114.87
• Take Profit 2: 113.18

Comment:

RSI above 70. This may mean that prices are either in a long uptrend or simply overbought and therefore should be corrected (look for bearish divergence in this case). The MACD is positive and above the signal line. Configuration is positive. Walt Disney is trading above its 20 and 50 period moving averages (116.82 and 115.17 respectively).

Key levels:

Disney, D1

Pivot: 117.83

Analysis:

While the asset is traded above 105.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 117.83
• Take Profit 1: 138.30
• Take Profit 2: 147.50

Alternative scenario:

If the level 105.00 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 105.00
• Take Profit 1: 90.20
• Take Profit 2: 81.50

Comment:

RSI above 50. MACD is above its signal line and positive. The configuration is positive. Moreover, the stocks are trading above the 20-day and 50-day moving average (108.01 and 107.52, respectively).

Key levels:

We also advise you to pay attention to Tesla for intra-day trading:

Pivot: 799.17

Analysis:

While the asset is traded above 704.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 799.17
• Take Profit 1: 934.00
• Take Profit 2: 997.00

Alternative scenario:

If the level 704.00 is broken-down, follow the recommendations below.

• Time frame: H4
• Recommendation: short position
• Entry point: 704.00
• Take Profit 1: 599.00
• Take Profit 2: 536.00