The Walt Disney Company (NYSE:DIS) is in a strong long-term downtrend since May 2016. Price and the stochastic oscillator suggest we might be at the early stages of a bounce towards the long-term red downward sloping trend line or even towards the Ichimoku cloud. So as long as price is above $91.50 bulls are safe.
Transocean Ltd (NYSE:RIG) is mainly moving sideways from March 2016. Price is trapped inside a trading range. Price is inside a bearish short-term channel. A break above $9.90 will open the way for $10.80-11. Important resistance levels are at 13.20-13.60 and support at $8-8.40.
Freeport-McMoran Copper & Gold Inc (NYSE:FCX) is also trading inside a long-term trading range. Price has broken the short-term downward sloping channel. Both oscillators imply more upside to come. Maybe towards the Ichimoku cloud resistance at 11.70. Traders should be very cautious as we reach resistance levels.
Disclosure: None of the information or opinions expressed in this blog constitutes a solicitation for the purchase or sale of any security or other instrument. Nothing in this article constitutes investment advice and any recommendations that June be contained herein have not been based upon a consideration of the investment objectives, financial situation or particular needs of any specific recipient. Any purchase or sale activity in any securities or other instrument should be based upon your own analysis and conclusions.