JSE:DSY seems to be on its way up after the down move of the Head & Shoulders pattern. It didnt quite reach the target, but instead found resistance on the 200 moving average. If it continues through the neckline upwards and uses it as support, I will go long.
Discovery looking to test upward channel. Monitor for break/hold.
Watchlist Price beginning to tighten up If price can break the pattern, watch how price reacts to the 10c level Price trading above all EMAs Drop off in volume since the last push up
DISCA - Setting up for another play. The last trade worked perfectly. ENTRY = 20-22 1st target = 23.50 2nd target - 25 HODL Target = 27+ This content is for informational and educational purposes only. This is not in any way, shape or form financial or trading advice. Good luck, happy trading and stay...
Keep an eye on this one- if history repeats, the 200dma which has acted as strong resistance on any snap-back rally should be a very decent level to enter a short position with a fairly tight stop loss.
DISCA - Long Opportunity. Information is in the chart. This content is for informational and educational purposes only. This is not in any way, shape or form financial or trading advice. Good luck, happy trading and stay chill, 2degreez
JSE:DSY has failed to make lower lows on a support level formed in August last year. The Stochastic is confirming a possible change of trend as well, so I will consider entering a long position if confirmed with today's movement.
Discovery INC looking like it wants to come down, we have a double top on the weekly with bearish divergence on the monthly and the weekly. The top is confirmed on the weekly so we have confirmed divergence on the monthly. as shown i have the neckline which we are currently trading below. I think 31 or 30,5 is a descent target on this. Also i think its imortant...
If confirmed, we can possibly be looking at a short move on JSE:DSY as it is at quite a strong resistance level, and might fail to break through it.
- Shorts are favoured while price stays below R116 ... JSE:DSY
The chart is oversold on the short time frame and could bounce back a little with the previous resistance acting as a resistance again. In the longer time frame of the chart, Discovery is bearish dropping below all Fibonacci levels and breaking below key support levels, I expect it to go lower before bottoming out completely.
After finding appropriate RSI and MACD entry points, traders benefit from analyzing key candlestick formations. Below are the candlestick reversal formations detailed in this chart. Candlestick Formations: Two Black Gapping : appears after a notable top in an uptrend, with a gap down and two red bars. It predicts lower lows with an accuracy of 68%. Three...
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.
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...
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.
JSE:DSY is trading at a strong support level at the moment. It has bounced off of this level forming a hammer candle pattern which indicates a loss of bearish momentum and is a strong reversal signal. Coupled with this, the stochastic has turned upwards which makes the signal stronger. I have entered a long position, aiming for the next resistance level.