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.
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%.
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.
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...
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
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.
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.
The corrective structure indicated above has targets of between 19000 and 21000 which is a long way...
Go on youtube right now ( GOOGL ) and see what people are talking about: TLC network shows.
The 'crazy' stuff has become reality tv and we now crave it in our everyday lives ( xiv blowup). Discovery inc owns TLC ( DISCA DISCB DISCK ) and owns the memes of production
manage your risk
Price made the first impulse move to the upside late last year, followed by a nice consolidation (correction).
We are now looking for an opportunity to start accumulating DISCA.
17.70 to 19.05 area is a good zone for us to look for a potential long entry, with a potential target around 29.76 - 32.29.
Disclaimer - this is not a trade call or investment advice....
My drawings are largely based on a detrended analysis and decomposing the T + C for a better understanding of their parts. To list the few tools:
So, a lot of textbook stuff in there. Looking at very near-term cycles, I drew the vertical lines to correspond with those troughs. This part was...
There is big-time resistance around the $11.6k USD price - conveniently this is RIGHT AT the .618 Fibonacci versus the ATH.
Until we see it break through this and into the cloud on the daily, the verdict is still out... (can see it on the hourly as well)
If it continues to meet too much resistance I would expect it to fall to the next Fib level - .786 - $9k USD.
I expect USDJPY to finish an ABCD correction in order to reach 121 price range with a max price of 122, once there we hope to find resistance, lets swing it! and as always DO NOT forget to place your SL.