Head and Shoulders formed on the Daily. The price has clearly struck below the neckline showing it wants to come down. Aggressive traders would take full advantage here but conservative traders will wait for the price to go back up and retest the resistance before the fall. 21>7 Price<200 RSI<50 R118.00
Discovery showing another nice short position... It's broken below an Inverse Cup and Handle on daily and momentum is favouring downside. Target R56.12.
www.tradingview.com EURONEXT:DSY -FIbo level 0.5 reached -volumes divergence -stoploss can be place above fibo level 0.618 or 0.5 but may be more risky -50 MA in between 0.5 and 0.618 fibo
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...
$dsy $mtls $trmb $mtls
Following the markdown of Discovery since 2019 (See posts listed below) we have now seen a retest of the previous support now become resistance. We can now expect a test of the lows around R60 and then watch for a further break lower.
Thank you for you likes and shares! Much Appreciated! _______________________________________________________________ DSY DASSAULT SYSTEMES price have been bouncing several times on the pink decision zone. It is probably the best level for entry/exit in this market. The blue uptrend line have experienced a strong pullback on it marking an amazing triangle with...
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.
Bearish impulse complete, looking forward to get in with the buyers as we are on Demand Zone targeting the resistance on top.
Following the distribution of Discovery (See post below) it seems that it is ready for the markdown. Divergences in the RSI, declining relative strength, failed test of the 200sma and failed test of the yearly pivot point all point towards the continuation of the markdown.
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.
I'm looking to buy DSY at around R144.00. It's holding up nicely at that horizontal support in a wedge pattern. the next move could likely be back towards the top of this wedge. Investors seem to have shrugged off their soft results and that bodes well for some bullish price action
Regarding the current context, a bearish phase is strongly probable...
Discovery Ltd. is listed on the Johannesburg Stock Exchange and is an integrated financial services organisation, specialising in health insurance, life assurance, wellness, investments, savings products, short-term insurance and credit card products. Technicals The corrective structure indicated above has targets of between 19000 and 21000 which is a long way...