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 push higher in the share may see the ultra short rating become even more extreme, providing a short/sell opportunity for active traders [mean reversion].
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 push higher in the share may see the ultra short rating become even more extreme, providing a short/sell opportunity for active traders [mean reversion].
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