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DIS-CHEM PHARMACIES LTDDIS-CHEM PHARMACIES LTDDIS-CHEM PHARMACIES LTD

DIS-CHEM PHARMACIES LTD

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DCP trade ideas

DCPDCP Dis-Chem Pharmacies The share may be printing an 'inside bar' - which has in the past signaled a reversal of trend. Most recently the share is down from it's 27 March peak of 2757c to Friday's low of 1805c. The MACD is printing a higher low (bullish divergence) while the RSI is making a slight turn up. The share also trades close to the oversold zone with a reading of 33. I'd like to see a positive close today, with the majority of tomorrow's trading action being in the upper end of today's bar. This will signal some form of stabilization and potential follow-through from the 'inside bar' candle structure.
JSE:DCPLong
by LD_Perspectives
2
Dis-Chem Pharmacies - Failing To The TrendDischem Pharmacies is struggling to break back above the support zone of 2411c to 2430c. This level is now turning into a resistance zone while the downward trend line going back to the peak of 27 November 2018 is also serving as a resistance level . The RSI is rolling over, also losing support. Adding to the short term bearish setup is the 200-day MA which is acting a resistance level and trending lower. Fundamentally, we've seen high multiples go even higher ( CLS ) but at 28x earnings the share remains highly valued, meaning high expectations.
JSE:DCP
by LD_Perspectives