DISH Network Macro technical developments point to BuyHi guys! So this is a look into DISH Network (DISH) technical analysis. This analysis is done on the 1 Month timeframe, thus depicting the Macro price action of DISH. This analysis does not express the shorter term or intermediate term trend but looks to assess the Long term trend.
The findings in this idea also support a buy and hold strategy for DISH. Do note that because of that it is possible for shorter term or intermediate term pullbacks. I will do my best to post updates on shorter timeframes to help assess better buy areas.
But anyway lets jump right in.
As you can see from the Highs of Dec. 2014, we've been in a continual price decline.
Depicted by "Major Resistance trendline", that has helped propel the downtrend.
We reached major Support Zone, to only break through and continue our downtrend.
Till we reached our Downtrend target zone. Here i was aspecting more downside, where price action would have traveled inside this zone.
This month however we have had a 45%+ bounce Up.
Currently in the process of creating a BULLISH ENGULFING CANDLE. It being on the 1 Month, makes it very Powerful.
Note though: This months candle closes Dec. 31st. So nothing has confirmed yet. But if on Jan 1st, we are still looking like this. This ENGULFING candle may indicate a macro trend change.
We have also from last months and this months candle, confirmed a Sloping Support trendline. This showcases the Uptrend and a Higher low on the Macro scale.
Notice also the 21 EMA (Purple moving average). This will continue to come down BUT it can be used as a target for where price will move to. We've also havent touched it since 2021. So probabilities dictate we will eventually touch it. So keep that in mind.
A likely target if this uptrend continues is the $9.00 level. That would be a critical area since breaking above will mean continued bullishness but a rejection could mean that there maybe a probability that we go lower, possibly into the DOwntrend target zone.
Dishnetwork
DISH Network (NASDAQ: $DISH) Lookin' Fully Bottom'd Out! 🛰️DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages. The company also provides access to movies and television shows through TV or Internet-connected devices; and dishanywhere.com and mobile applications on Internet-connected devices to view authorized content, search program listings, and remotely control certain features of their DVRs. In addition, it offers Sling TV services, including Sling domestic, Sling International, Sling Latino, Sling Orange, and Sling Blue services that require an Internet connection and are available on streaming-capable devices, such as streaming media devices, TVs, tablets, computers, game consoles, and phones, as well as market SLING TV services to consumers who do not subscribe to traditional satellite and cable pay-TV services. Further, the company provides wireless subscribers consumer plans with no annual service contracts, as well as monthly service plans, including high-speed data and unlimited talk and text. As of December 31, 2021, it had 10.707 million pay-TV subscribers in the United States, including 8.221 million DISH TV subscribers and 2.486 million SLING TV subscribers. The company offers receiver systems and programming through direct sales channels, as well as independent third parties, such as small retailers, direct marketing groups, local and regional consumer electronics stores, retailers, and telecommunications companies. DISH Network Corporation was founded in 1980 and is headquartered in Englewood, Colorado.
