Source: PaxForex Premium Analytics portal, Technical Insight

This week Disney announced that it plans to start opening its four theme parks in phases starting July 11. When Walt Disney World restarts, guests can expect many changes in park visits, from the need to wear facial masks and undergo temperature screening to refusing meetings and parades.

Disney, H4

Pivot: 118.35

Analysis:

Provided that the asset is traded above 113.15, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 118.35
• Take Profit 1: 119.30
• Take Profit 2: 123.20

Alternative scenario: 

In case of breakdown of the level 113.15, follow the recommendations below:

• The timeframe: H4
• Recommendation: short position
• Entry point: 113.15
• Take Profit 1: 109.05
• Take Profit 2: 106.20

Comment:

Short-term consolidation is not excluded. 

Key levels:

Disney, D1

Pivot: 118.75

Analysis:

While the asset is traded above 109.90, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 118.75
• Take Profit 1: 132.00
• Take Profit 2: 138.10

Alternative scenario:

If the level 109.90 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 109.90
• Take Profit 1: 99.90
• Take Profit 2: 94.00

Comment:

RSI above 50. MACD is positive and above the signal line. The configuration is positive. In addition, the stock is above its 20-day and 50-day moving averages (112.49 and 106.58 respectively).

Key levels:

We also advise you to pay attention to AT&T for intra-day trading:

Pivot: 31.02

Analysis:

While the asset is traded above 29.30, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 31.02
• Take Profit 1: 33.30
• Take Profit 2: 34.40

Alternative scenario:

If the level 29.30 is broken-down, follow the recommendations below.

• Time frame: H4
• Recommendation: short position
• Entry point: 29.30
• Take Profit 1: 27.50
• Take Profit 2: 26.50