With the strong downward momentum of today's move along with the EMA's, stochastic and MACD, I think we could see a nice short position coming on JSE:DSY
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
An inverted Head and Shoulders pattern has formed on JSE:DSY if it breaks through the neckline, we could see a ove towards the target and resistance level at around 180000
Discovery formed an inside yearly bar for 2021 , range R157.82 - R117.17
Bullish case will be a break of the R157.82 high to trade towards R168.50 then R193.61
Early entries and risk management can be done on the smaller Monthly/Weekly/Daily charts
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
We have a giant symmetrical triangle pattern on Discovery. We recently had a golden cross on the stock. A breakout from the triangle provides an excellent risk reward opportunity with a stop loss just below the 200 day EMA at R132 and a profit target using the width of the triangle from its broadest point
Price structure/Technical analysis shows us that price is forming a nice pennant and should price break the top trendline, then market should take it as confluence to go long.
Price is forming a nice bull/wedge flag here. It would be nice to see more buyers coming in here in support of a proper move higher. The LT trend is up. Always manage your risk
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Price may have found a base of support at 12650 but there is bearish engulfing candle from the LTD, which indicates selling pressure around the 13000 level as price moved down sharply after testing this level. Patience here looking for a bounce and close above the DEMA for a long. The long term trend is currently up.
- #JSEDSY has reached oversold levels and is looking to get a bit of relief from the last leg down
- Decent breakout out of a consolidation period
- Increasing volume on the daily and bullish price action
-Aiming for the R130 zone and then the 200 day moving average / R126.50 will be the first hurdle for the bulls
-- MANAGE YOUR RISK - -
Disclaimer: All...
JSE:DSY looking to be consolidating at the .618 Fib level and finding support on the daily around R120. Strong Bullish Divergence on the daily with Hidden Continuation Divergence on the weekly and seems like we could be starting to ramp upwards heading into earnings announcement.
Confirmation of move - break the R135 mark. Stop loss at R118 as next support level...
