DISCOVERY COMMUNICATNS NEW

DSCA is running into Market Profile resistance at current levels. Sell here with stop at 25.91. Daily Internals for the SP 500 have now turned negative on MP Scans

08.05.17 Signal of a potential bottom from my dBFIr on DAILY chart Awaiting confirmation

P (Reports 5/8/2017 AC) IVR = 54.2, Expected Move = 9.31% HTZ (Reports 5/8/2017 AC) IVR = 95.4, Expected Move = 15.31% TGNA (Reports 5/9/2017 BM) IVR = 55.1, Expected Move = 4.57% DISCA (Reports 5/9/2017 BM) IVR = 51.5, Expected Move = 7.11%

over 30. possible cup

Looking for another move down soon.

This trade may be difficult to enter, but if it sets up right we can a good trade. I am waiting for a break from my triangle lines, expecting that to happen around or near Earnings Release.

I am going long, entry @ bottom of channel;

L

DISCA

www.stocksetups.com

Notes on chart

Buy Area - $58.50 - $59.50 Target Area - $61 - $62 (Although DISCA has been in a major bull uptrend for quite a while and higher prices should be expected in the future) Stop Limit - $57 Reasons to buy: Oversold Daily / 4 Hour / Hourly stochastics Just broke out of a triangle pattern up to the measured move for the breakout, prices are pulling back as to be ...