I always expect more from this year, but I am often disappointed. Like the bounce of previous support, nice triangle forming. Do you see Dischem going up from this position?
LONG PIVOTS: The highlighted levels may or may not trigger during the upcoming trading session. Dotted Horizontal Lines = Bullish Pivot. Required: Needs to hold above the pivot with intraday strong bids to trigger a long/continuation long or bullish reversal.
Dischem had a stellar run from the July 2020 all time low of R16,50 to peak at R39,15. The share price has recently come under pressure and looks likely to retest a previous support at R28,34. Further analysis of price action shows a potential rounding top formation. This pattern can also evolve into a head & shoulders. My short-term outlook is to monitor price...
Despite a backlash from mainly the minority community for its labour policy, Dis-Chem is edging higher. The stock is trading in a triangle, a corrective pattern that resumes the prior trend when complete. A breach of 3600 will be our confirmation level.
Dischem bulls are trying their best to hold this R30,50 support for the last 4 months or so, if this levels is lost the next support comes in at 28.50 currently DCP is trading below its yearly average....
INV C&H or Descending triangle RSI <50 Wait for the brim level break Bearish bias CONCERNS: The liquidity is low and high volatility which can cause the market to gap 10% on any given day. These are risky assets to trade.
- The chart is close to printing a death cross (50 day moving crossing under 200 day moving average) - R31.00 will need to hold else the double target of round R25 could be on the cards - Alternate scenario we find support at these levels and continue to range -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial...
A price action close to the lower range of the linear regression channel pattern supports a mean reversion trade. A price action above 3320 supports a bullish trend direction. Crossing below this level will negate the bullish stance. Trend strength supports a strong trend gaining strength. The 200-day might act as major support.
Target exceeded (original idea attached) with high of 3865c on 01 April for a move of +11%. Today the share is showing relative strength as it trades +2%. It trades close to 52-week highs and has the potential to break out however it could also be a 'false breakout' as there's a downside gap to be filled. I'm monitoring. Looking back, this has been a great...
Following the last long idea , Dischem hit resistance exactly at the 0.618 extension and has now pulled back to the 100day moving average and breakout pattern. Will be watching lower time frames for any signs of support. -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice. Previous Post
STRATEGY: POSSIBLE & PENDING PIERCING CANDLE Time Frame: Short Term. Levels of chart. My pre-market comments: DCP is a recent pivot play that is providing another potential short term opportunity. In the past few weeks, I've discussed the opportunities around piercing (reversal) candles. To refresh your memory, it's a candle where the price has been in a...
Bullish price action here with price at a 52WH approaching the ATH and testing the 3800 level. This is a decent spot to add some if you already have a pos. As always manage your risk
Dischem chart continues to trend higher and has broken out of a triangle pattern into the 52 week high territory First likely hurdle at R37.22 -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
DCP trading in a range between R33.30 and R35.70 for a while now. Will look for entry at the bottom of the range. Additional support at R32.50 if R33.30 fails. Trade ideas are my own and not financial advice.
Nice bullish flag with 2.44 risk reward OF R39.50 target
Hoping this upward channel holds for Dischem, break here might indicate trend change.
DCP looking to retest the breakout level of 32.75 which will provide a good buying opportunity reward to risk - 2:1 *Disclaimer* - ideas shared in the above is for educational purposes only and IS NOT trading or financial advice.