Discovery Holdings - from my research note (Sunday 10 May 2020)
DSY is one of the names we strongly recommended at the 18 – 19 March lows, in which we argued that “Red Equals Opportunity, 18 March 2020′. From 7200c at the time, to 9772 at it’s last close, the share is now approaching three levels of interest: (1) prior breakdown level (2) downward trend line resistance (3) 0.618% Fibonacci retracement. In addition, the share is approaching the ’round number’ R100 which is often a psychological price target. Also keep in mind a push into the downward trend line and failure for the opportunity to potentially get short.
DSY is one of the names we strongly recommended at the 18 – 19 March lows, in which we argued that “Red Equals Opportunity, 18 March 2020′. From 7200c at the time, to 9772 at it’s last close, the share is now approaching three levels of interest: (1) prior breakdown level (2) downward trend line resistance (3) 0.618% Fibonacci retracement. In addition, the share is approaching the ’round number’ R100 which is often a psychological price target. Also keep in mind a push into the downward trend line and failure for the opportunity to potentially get short.