Dischem looking well poised for a breakout. Still having a rather tough time breaking the R32.40 resistance. A break through this level provides an excellent risk reward opportunity. There’s a head and shoulders pattern. Albeit the left shoulder being a bit longer. With a profit target at R36 and a stop loss at R30.50. Assuming a R33 entry level
Parabolic moves in stocks sometimes retrace 50% of their move. Everything about this short idea technically is screaming don't do it but its worth looking at the other side of the trade. Stop @2808 Entry @2752 Limit @2585 . P.S This is a risky trade.
The share has followed my envisioned price path from 15 April, and then some however the daily RSI is now at 82 (with price of 2667c), so it's looking a bit frothy. May be a good level to trim if you have an ultra short term time horizon.
I believe if you are publishing trade ideas or analysis, it has to be clear-cut and to the point. For me, helping clients understand that prices don't go up/down in a straight line is key. On this basis, I've started adding a 'potential price path' which in some cases show that a share may pull back before moving higher. DCP has followed our previously highlighted...
