See link below for previous analysis.
Discovery has traced out the three wave decline I forecasted after the five wave advance from 10073 to 16042.
The decline is labelled as a zigzag with a triangle wave and wave is now near the support trendline of the falling channel.
There is no evidence of a reversal yet.
For this bullish, bigger picture ABC outlook to...
Discovery (DSY), developed and built by Adrian Gore over the past 25 years, offers the A/B income group of people a matrix of financial services which are inter-linked and cross-selling. Thus a customer can begin with his/her medical aid and then add to that a variety of insurance products and now, most recently, personal banking products.
Discovery's "Vitality"...
Discovery has a bullish flag going into earnings, it has also confirmed 8 September as a cycle low. We can expect swift move upwards as price chases a weekly cycle high. The support of the 200 day moving average adds to the weight of evidence that price wants higher.
Con: The horizontal pink line is the fail point which is now R141.90, anything below this signals...
See previous analysis in link below.
Discovery stock reached the 16000 region previously forecasted and did not travel much further.
A break below the lower trendline is a strong indicator that the bull run is complete and that the stock is now in a correction phase.
I am looking for a three wave decline, similar to wave ((iv)) of the advance, before looking to...
Head and Shoulders formed on the Daily.
The price has clearly struck below the neckline showing it wants to come down.
Aggressive traders would take full advantage here but conservative traders will wait for the price to go back up and retest the resistance before the fall.
21>7
Price<200
RSI<50
R118.00
Discovery (DSY), developed and built by Adrian Gore over the past 25 years, offers the A/B income group of people a matrix of financial services which are inter-linked and cross-selling. Thus a customer can begin with his/her medical aid and then add to that a variety of insurance products and now, most recently, personal banking products. Discovery's "Vitality"...
Discovery had a failed cycle in week 32, now we can expect price to confirm a weekly low as it is within the timing band. The resistance line confirms such when we close above it on a weekly basis.
We can expect price to consolidate on arrival at this resistance or breakout then backtest. A rejection at this level would mean we wait and watch where it lands,...
Discovery (DSY), developed and built by Adrian Gore over the past 25 years, offers the A/B income group of people a matrix of financial services which are inter-linked and cross-selling. Thus a customer can begin with his/her medical aid and then add to that a variety of insurance products and now, most recently, personal banking products. Discovery's "Vitality"...
A surge in price beyond 15500 serves as a signal of an impending bullish trend.
Further support for this bullish trajectory comes if the price vaults above the 16000 marker.
A target price has been determined at 16600 which aligns with the 100% Fibonacci projection level.
A stop-loss has been carefully positioned at 15000 to curb potential losses (38.2% Fib...
Market Neutral: Buy DSY/Sell OUT
A pairs traded I added to my research note yesterday morning. I meant to publish it here.
Entry (Ratio Level): 4.12
Stop: 4.00
Target: 4.38
For more research insights, including trade ideas, get in touch today.
The last analysis of Discovery was on 07.04.2023, link below.
At that time, I was of the view that wave ((iv)) was complete at 13194 but the correction developed into a larger zigzag labelled (abc) which terminated at 12945, just above the wave ((i)) peak of 12932 thereby not violating the impulse wave rule for 4th wave termination.
From 12945 the stock looks to...
JSE:DSY is looking good for a long position. the stochastic and MACD turned upwards a few days ago and now finally the EMAs have crossed upwards, confirming the signal. If it trades higher than it currently is, we will be entered into the trade.
Discovery broke out of a falling wedge and is now consolidating in a bull-flag while at the same time working off the oversold conditions. Risk accepting investors have no problem buying at these levels. In the short-term price is expected to go above R132-133 level to confirm trend remains up.
The plan is to hold while assessing the JSE Top40 index. When it...
JSE:DSY is few Rands away, ~R7, to give all the YTD gains. Hectic, but did you see the JSE:SBK chart?
JSE:STXFIN is also moving lower, at a quick pace. The sector is under pressure.
After the last post where i cautioned being long on the stock, price pulled back and found support at the 200dma
The stock has returned to the same resistance zone and i will be looking for shorts up to R146 with a stop above R148 swing high
Initial target will be test of the 200dma again at R135
Discovery did discover some buyers as per the previous analysis, link below.
Looking at the move from 10073, it looks like the stock is making its fifth and final move up to complete an impulsive move.
Wave(iii) in only 1.236*wave(i) so there is potential for wave(v) to be extended.
Longs opened at current prices should use 13194 as a stop-loss level.
Discovery has rallied well off its R100 lows from last year October and last week we printed the 1st weekly close below the previous week candle which hasn't happened since the breakout from the beginning of this year. I would be cautious to the long side currently, unless bulls can break R152.70
