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Discovery

Perfect Entry & Exit PointsAfter finding appropriate RSI and MACD entry points, traders benefit from analyzing key candlestick formations. Below are the candlestick reversal formations detailed in this chart. Candlestick Formations: 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%. Three Black Crows: Bearish Three Black Crows shows reversal near the high of an uptrend. It can trap bulls seeking further momentum, or irrationally exuberant buyers (FOMO). It predicts the decline to a lower low with 78% accuracy. Bearish Evening Star: Starts at a long green or white bar, that carries an uptrend to a new high. Make sure low volume follows, with smaller hammer-like bar. Predicts lower price with 72% accuracy. Abandoned Baby: Appears at the low of a downtrend, after a series of lower lows. As it gaps lower, no new sellers appear. This triggers recovery at 70% accuracy rate. Abandoned babies have a 70% chance of surviving if they're with G/god.
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by Grandmaster76
1
$JSEDSY Discovery - chart structure bearish *see analysis belowSimilar 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 purposes, but if you had to bring up all the major moving averages, one can also clearly see that the moving averages are pointing down with the short term averages crossing below the longer term averages. In my opinion this is the type of chart structure where you would be looking to adopt an approach of shorting the rallies, rather than trying to pick the bottoms for a bounce. The balance of probabilities would favor downside in this share. Looking at the fundamentals, two things that concern me (1) the launch of the banking business is proving to be very capital intensive indeed which should depress earnings at least for the next little while.. (2) we have seen directors take out protective collar and hedging strategies to protect their share options (not something that exactly instills confidence in the stock). Two levels to monitor for shorting on the rallies are R150 which is the previous peak, and R155 which coincides with a previous peak as well as the declining 200 day moving average. Also watch the current level of R142.60 which is proving tough resistance at the 50day moving average. If one zooms out a bit on the chart and looks at a longer weekly view, it would not surprise me if over time we were to retest the massive horizontal support level at R110.00 which would also coincide with the bottom of the fibonacci channel.
JSE:DSYShort
by MarcoOlevano
2
Discovery Correction With Big TargetsDiscovery 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. Technicals The corrective structure indicated above has targets of between 19000 and 21000 which is a long way up. We are in wave 3 of a possible 5 of the correction. I will be looking for wave 3 to break the low of wave 1 before looking for reversal signs to enter the long. Happy trading! Linton
JSE:DSYLong
by Linton_White
Discovery - A new opportunity discoveredPrice 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. Make sure you have a proper trade and risk management plan before engaging in any trading or investment decision.
DLong
by KarYong
Short & support @6800. 2+ weeks wait.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: 1) RSI 2) DPO 3)Fib 4)Modified MACD 5)Regression 6) Bollinger 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 accomplished by detrending the data and isolating the micro cycles to estimate their length in days (~20). when doing so, I also use Bollinger and wedge to signal a conservative trend reversal in the near term, while relating that movement to past cycles just to see if we were still corresponding well between those proposed cycle lengths. This also done to review what the historical cycles suggest we ought to expect and just to see if there's a match on patterns that would otherwise form the ' between' parts of those cycles. I note a likely bounce off the dotted support line, but I would also imply some interaction with the Fib retracement, which seems to hold up well when mirroring the support trend. The regression line also fits in there pretty appropriately, as it also begins the trend where the first cycle start point is drawn, illustrated by the orange vertical line. Regression was also helpful in gauging the depth of the lows from the regression's median, which shows a diminished deviation from the trend's average. It appeared that when using the fib chart to measure those distances from trend's average to the dotted support-trend, there was a neat fit. EAch of those distances were placed to the fib in succession to how they occur (black lines). This comfirms to me how appropriately the regression to support trend distance diminishes and in a fairly predictable fashion if placed back to the fib retracement. So, that confirmation was obviously used in determining the next low's distance. from the prevailing regression. The MACD is also used here to illustrate the number of cross-over signals that fall between each cycle length. You may notice that the MACD is completely modified to react faster to turns in btc price. I think this is also appropriate when I'm using a smaller range of history to capture the DPO movements. This is what allowed me to sync the MACD signaling with those time frames I'm now referencing. Strength and momentum tools, as mentioned previously, were use to resolve that there is still plenty of room for the bears to pick up without being in oversold territory. I tried to be as thorough as possible with this analysis. It may have some flaws against the common practices, but I don't believe we are dealing with a very "common" asset. With that, I would presume that it's anyone's game to pioneer what best practices should be considered. To sum it all up: The entire month is slated for a drop test at 6800. I would put stops at 7300 for those wanting re-entry. Time frame we're looking at is probably no less than 18 days from now, so I would just be patient. Be careful around the fib retracement interaction. Could linger around that area for some time and otherwise create a false sense of support. Give it a bit more time, and listen out for the news. The alternative to the bearish short trend in the cycle is looking like a rally, depending on how we come through the wedge. 10,000 USD is my psych barrier and the technical barrier. Beyond that, I think that would provide us with enough strength on the back-end for a breakthrough. As a reminder, this could also take some time. Look to 9300-9400 as the first barrier to cross if you do vote that direction. I would just be careful because the news can always make some noise in the markets longer than the rest of us can make sense of it. Looks like overall MSM in the US have been ramping it up lately.
BITFINEX:BTCUSD
by thehoplite