traderprosignals

DISCA BUY/LONG NOW READY! 29.00-31.00 by End Aug 2021

Long
NASDAQ:DISCA   Discovery, Inc. - Series A
TICKER CODE: DISCA
Company Name: DISCOVERY , INC. - SERIES A
Industry: US Stocks Consumer Services Cable/Satellite TV

Position Proposed: BUY/LONG

Entry: NOW READY 30.20
1st Partial Take Profit: 39.85 - 40 .00 (~Aug21)
2nd Partial Take Profit: 50.15 - 50.30 (~Sep21)
3rd Partial Take Profit: 69.45 - 69.60 (~Nov21)
NOTE THAT THE TIMELINE IS ONLY AN ESTIMATION

Stop Loss: 26.20

Technical Analysis
1. Falling wedge / pennant (Almost complete; waiting to breakout)
2. 1st Partial Take Profit is at the next resistance level ; may experience some retracement
3. 2nd Partial Take Profit is at the next major structure level
4. 3rd Partial Take Profit is Fibonacci Retracement at 0.786 & also 100% of the pole length