Dis-Chem Pharmacies, listed since November 2016, directly competes with Clicks in the pharmaceutical, medicine, and beauty products markets. Originally a family business controlled by the Saltzman family through Ivlyn, it saw a significant change in August 2021 when Ivlyn sold a portion of its stake, reducing the family's interest to 31.4%. This move aimed to...
See link below for previous analysis.
Dischem has had a stellar run from the 2154 low, tracing out a textbook five wave advance.
Wave is a leading diagonal followed by wave which unfolded as a complex zig zag with a b-wave triangle; wave is a strong impulse and wave is a simple zig zag.
Wave can unfold as an impulse or ending diagonal and looks likely to...
Price recently had a pullback after a sold run up and looks to have taken out some longs and perhaps trapped shorts in the process.
Looking for a move now through the swing high @ R31.00
A daily close below major support will change the picture.
Previous post below
A price action above 3000 supports a bullish trend direction.
Crossing above 3100 triggers the option to increase long exposure.
The target price is set at 3200.
The stop-loss price is set at 2800.
Remains in an inclining channel pattern.
As long as the price action remains above its 23.6% Fibonacci retracement level.
Remains a risky trade.
Dischem has shown a healthy recovery to +-R29.00
The recent Elliott Wave Count is now Ice Blue as it's > 5 and a correction is expected.
I will have to do a FIB Retracement to find where this could be.
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Thursday 09-November-2023, 07h22 Strategy Screen: Dis-Chem Pharmacies (DCP). *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. Attached is a 2-day chart of DCP
After forming a 5-month base which broke out through the 200dma yesterday on the back of an upgrade, the stock looks set to for a decent leg up.
Note: Volume has been increasing into the date of release
Next hurdle up is R28.00, target price R30.50 (likely not in a straight line). Bulls next to keep price above the rising 20ema now.
Dis-Chem Pharmacies (DCP) listed in November 2016 and competes directly with Clicks (CLS) in the pharmaceutical, medicine and beauty products markets. It is a family business run by the Saltzman family who had a controlling stake in the business through a private company, Ivlyn. On 24th August 2021 Ivlyn announced the sale of 7,5% of its shares in a bookbuild,...
Price has recently been in a down trend, there have been lower lows and lower highs. The price is below the 200-day moving average.
MACD has crossed below the signal line, momentum to the downside.
Idea: speculative Sell/Short
Stop loss: R26.80
Target: R22.17
Risk/Reward: 1.5
A price action above 2300 supports a bullish trend direction.
Further bullish confirmation for a break above 2500.
The target price is set at 2600.
The stop-loss price is set at 2300.
A symmetrical triangle pattern seems to be developing.
Remains a risky trade.
Cup and handle formed on the daily.
We need price to break above and close above the brim level to confirm upside to come.
7>21 bullish
Price<200 but likely to head up to equilibrium.
RSI>50 Bullish
Target R30.24
SMC
SSL (Order block)
ABOUT THE COMPANY
Dis-Chem was founded in 1978 by Ivan Saltzman and his wife, Lynette.
The first Dis-Chem store was located...
After cautioning investors in June last year about the potential move down to R25, the chart is oversold and looking interesting.
I'm happy to accumulate here while the stock remains above R23 on the daily
Looking for a move up towards the 200dma
The last time I covered Dis-chem was on the 18th of November 2022 and I cautioned on the rounding top formation.
I also said I would monitor price action at the 2834 neckline.
On the 17th of February 2023, Dischem issued a trading update for the period 1 September 2022 to 5 February 2023.
The Group focused too much of revenues in my opinion and did not mention...
A bullish trend is applicable.
The ideal long entry is around 2920.
Increase exposure for a break above 3070.
Stop-loss around 2880.
The profit-target is set at 3190 (which is close to its 200-day simple moving average).
It will appear that the price action is forming a base (see the blue curved arrow).
