A Strategy Screen identifies and highlights shares that may potential fit a certain trading setup (for example: 'buying at the rising 50-day EMA').
This screen is geared toward ultra short term/active traders. In addition, the instruments covered assumes no existing positions held by the trader i.e. the next best buying level or next best selling level.
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Nice rebreak higher from DSY with a bullish engulfing. Providing a good 5 to risk reward targeting the 185 highs. With a stop loss below the 200 day EMA.
Requires some patience on this trade
After a 45% retracement from R184,82 to R100,73 DSY caught a big and rallied to R129,32.
Price has since consolidated in a tight range between R116,09 and R129,32.
The MACD paints a bullish picture.
The rally from R100,73 was preceded by MACD/price convergence and the rally saw the MACD break decisively above the zero line.
During the consolidation, the MACD...
Trading Setup On Watch: Discovery Holdings DSY
Yesterday's closing 7-day RSI was 85, suggesting the share is approaching an ultra short term overbought range.
In addition, two other potential resistance levels coincide: (1) the prior breakdown level at 12150c which rejected yesterday and (2) the 61.8% Fibonacci retracement zone just above at 12307c.
A further...
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.
We are witnessing the fruition of the 50 day moving average crossing below the 200 day moving average, otherwise known as a "death cross". One thing is for sure, this price looks weak and sick. If this level does not hold, we will see the stock trade sub-R120.00
Published a few minutes ago on our client platform.
Discovery Holdings (DSY)
Higher lows + MACD Positive Divergence + Sharp Retracement Off 52-Week Highs.
Relief Rally Developing?
Entry: 12803.00
Target: 14200.00
Stop-loss: 12345.00
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After a 25% straight drop on DSY share price it is now starting to move sideways. DSY needs to clear and close above R140 to stage a possible bounce to the R150 area.
Trade ideas are my own and not financial advice.
Discovery looks to be on a strong trajectory up since it broke up and out of a Cup and Handle formation (shaded area).
My first target would be around R226.00.
- Discovery has been rallying hard and reached a swing high of R185
- Signs of momentum slowing are appearing and a break of 179.50 could open a leg down towards the 20ema and then 50 ema if that does not hold
- Above R185 will open another push up
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Disclaimer: All ideas are my opinion and should not be taken as financial advice.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
