Source: PaxForex Premium Analytics Portal, Technical Insight

Disney's (DIS) plans for a gradual return to normal life were destroyed as the second wave of the coronavirus made it clear that the virus was not yet about to leave. The company delayed the opening of Disneyland in California, which was originally scheduled for July 17. Walt Disney World in Florida planned to open on July 11, but it is also extremely unlikely, given the number of new COVID-19 cases in the state.

The theme parks aren't Disney's only problem. There's also no set date to resume film production. Moreover, the long-awaited release of the blockbuster "Mulan" in summer 2020 was again postponed from July 24 to August 21.

Disney, H4

Pivot: 111.23

Analysis:

Provided that the asset is traded above 109.60, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 111.23
• Take Profit 1: 130.00
• Take Profit 2: 135.24

Alternative scenario: 

In case of breakdown of the level 109.60, follow the recommendations below:

• The timeframe: H4
• Recommendation: short position
• Entry point: 109.60
• Take Profit 1: 100.00
• Take Profit 2: 94.00

Comment:

RSI shows the possibility of an uptrend.

Key levels:

Disney, D1

Pivot: 122.40

Analysis:

While the asset is traded above 98.20, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 122.40
• Take Profit 1: 137.26
• Take Profit 2: 146.65

Alternative scenario:

If the level 98.20 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 98.20
• Take Profit 1: 93.50
• Take Profit 2: 78.50

Comment:

RSI shows the possibility of developing an uptrend in the medium term.

Key levels:

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

Pivot: 30.49

Analysis:

While the asset is traded below 31.80, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 30.49
• Take Profit 1: 28.20
• Take Profit 2: 27.20

Alternative scenario:

If the level 31.80 is broken-out, follow the recommendations below.

• Time frame: H4
• Recommendation: long position
• Entry point: 31.80
• Take Profit 1: 33.60
• Take Profit 2: 34.60