Discovery testing the positive channel, a break will put an end to positive momentum.
Not liking the look of Discovery here, upward positive channel being tested.
A textbook E. Wave correction continuing here. We will not let it go. Happy trading.
Discover looks quite bullish as it held the 200w EMA
It looks like there is a change in direction on the cards for JSE:DSY . Although not confirmed yet, it is looking like it's only a matter of time before the MACD and the EMA's confirm the downward move along with the stochastic.
The share has just broken above the 50 day moving average level of R139.02 and the breakout opens the share to a move towards R149.17 first then R157.84 and aggressive traders can look at buying the breakout.
At the bottom ,of a upward channel, hope it holds. Weekly and daily stochastics overbought. ATR giving me a buy signal. Comgest global investors now hold 5% of the share. The sentiment tot his company will be good to the future.
The stock broke the 13400c resistance and ran to as high as 15880c. The stock came back to trade below the 13400c support. The 30w EMA is still above the 60w EMA. I’m looking for a re-breakout back through the 13400c resistance level.
DSY looks to making an attempt to retest the break-out level and has once again become resistance. Momentum indicators based on the daily chart are all still very weak which suggests that this bounce is too. I think Discovery is a convincing short at 135.00 with a potential medium term downside of R15.00. Targeting R120.00ish
An extract from my research report for 25-29 January 2021 Discovery Holdings (DSY 12984c) | DSY has acted well for me recently, firstly on the long side as it broke out from a bull flag, then on the short side as it became overextended at around 15500c. At current levels, the lower time frames suggest 'near oversold levels'. Should it trade there, the 11960c to...
Channel forming nicely, indicators looking good.
We have a nice falling wedge on Discovery. We had a classic morning star doji last Friday. Looking for a breakout to add into my breakout trade position
High probability trade. Confluence of technical indicators supports such a view.
JSE:DSY has revently bounced off of a strong resistance level that dates back all the way to 2015. If it continues down and breaks below the low formed on the 7th of Jan 2021, I will consider a short position based off of the downward momentum. The stochastic, MACD and the 2 EMA's are all showing signs of a downward move.
There is still a little room left considering that weekly and monthly charts show overbought stochastics. With vaccines becoming available and medical schemes committing to subsidise them i think that this will prove to be favourable for their image in the medium to longer term. Stochastic 5 oversold and 14 getting there, ATR giving buy signal. Will do a short...
retest of the head and shoulders neckline? stop loss below the right shoulder
Previously, we caught the bull flag for a buy/long, now we're looking to go short. Discovery (DSY) - Short/Sell Entry: 15482c Stop: 15820c Targets: 14620c, 14200c