I think a 120 target could be on the cards. Stick to a stop loss on this one if support doesn't hold in days to come.
On a little support and at the bottom of this multi month channel. Will it bounce or break. We wait for some bullish\bearish candles......
Will support kick in sometime soon ?
We may derive the following from the Weekly DSY chart: 1. Price went the absolute bearish route (See linked idea). 2. Keep holding short. 3. Wait for price to reach the support zone (purple box). 4. As always - maintain your risk. Note: The views provided herein do not constitute financial advice.
Will we see a bounce ? Let's wait and see.
FTSE/JSE All Share Top5 oversold/overbought according to 14day RSI indicator as follow: Oversold: Tongaat 12 Murray & Roberts 23 Brait SE 24 Discovery Ltd 26 Dis-Chem 26 Overbought: Pioneer Foods 90 Zeder 80 Anheuser Busch InBev 76 Sibanye Gold 74 Clover 74 Once one of the top performers on the JSE, Discovery Ltd has been on a slippery downward...
JSE:DSY formed a bullish engulfing pattern at a support level, but is yet to confirm. If it breaks and closes above the level of the engulfing candle, it could possibly go long.
We may derive the following from the Weekly DSY chart: 1. Price has respected the weekly downtrend resistance. 2. It also has a longer term bullish trend intact. 3. Price is narrowing in. 4. I would wait for a confirmation of the trend direction before taking any new buys/sells. Patience is key here. 5. As always - maintain your risk. Note: The views...
Discovery has had three failed attempts to break above the 200 day moving average which also coincides with the downward trend resistance line. It does look to be forming a falling wedge which means we could see a potential move from current levels down to the support zone of around R138.00/R140.00. I am looking to short the next bounce (possibly around R151.00)....
Weekly CCI broke 100 Daily CCI approaching 0 downward Bearish Marabuzo on the Weekly Bearish Engulfing on the Daily
Similar to the MTN analysis (but on the opposite side), i want to use this as a good example of a bearish technical structure. It is clearly evident on the Discovery chart that every attempt to rally is met with a lower swing high & the counter is also able to post new swing lows on the downturns. I have only showed the 50 and 200 day moving averages for clarity...
After the Equal lows discovery has printed a higher high Would be buying a pull back here
"If" resistance holds, 137 could become a target once again.
Discovery (DSY) 15341c - approaching a level of interest/potential technical distribution zone. At an 18 price earnings ratio, the shares appear elevated however the growth profile would attract the rating. Recently shares have benefit as markets have ticked higher however we have seen director instituting protection structures to limit downside while capping...
JSE:DSY has broken out of a symmetrical triangle in conjunction with a break out of a descending resistance line. There is also a fractal that has formed on the top of the candle of the 30th of May. If it breaks through this level of the fractal, I will consider a long position.
We might see this guy falling following this rising flag here
From fake moves comes fast moves. If this turns out to be a fake break we can expect to test of upper resistance. If this turns out to be a retest of current resistance line (previous support), we could reach some bottom targets.
Break below 14100 neckline opens 13100 and 12400 targets