Just yesterday, we mentioned how overbought Disney (DIS) was in in our opinion.
And it looks like we were right, even though quite a few analysts thought we’d see even more upside as DIS heads into earnings.
For one, DIS ran outside its upper Bollinger Band (2,20). Historically when it gets to that upper Band, the stock has tendency to pullback. That happens up to 80% of the time.
However, we never want to simply rely on a sole indicator.
So, we also look at Relative Strength (RSI) ...
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