DSK - Australian Scented CandlesYum! This is for those who are unaware of this business, it's an online retailer which sells cute stuff such as candles, in Australia.
Check out these multiples! Unfortunately TradingView doesn't show non-US stocks financials over time, but it has good growth, in large part by the lockdown. Check it out and see if it fits your portfolio! And it has a nice dividend too!
The trendline will inevitably be tested. Set an alert!
DSK trade ideas
DSK - Could we see a pullback?DSK has rallied nicely, but the recent price action indicates that maybe price has gotten top heavy. It looks very overbought currently and may need a breather and a decent pull back, as it has printed a double top, coupled with MACD Bearish Divergence. It has also broken its trendline, which makes me believe that it may run out of steam and pull back lower. There is strong support at $3.30, which should hold and I believe if broken, we might see acceleration in price drop.
I have two buy zones (1st Buy Zone between $2.80 - $2.95) and (2nd Buy Zone between $2.50 - $2.70), where I think price may come to test as these are previous Resistance zones or congestion zones and also Fibonacci 50% and Fibonacci 61.8% zones (confluence). I would monitor price action at either of the two levels and would buy after bullish price action confirmation.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
DSK, DUSK chart interpretationDSK share price has had an immediate rebound from the bottom support zone marked with the ascending wedge, and is likely to start a bull run towards resistance. If the market continues strong before the 27th of August when they release the 2021 financial year results, it is possible for the share price to reach $4, or even a new all time high.
If dusk can push on from here, first target at $3.50Chart is healthy on the daily, Friday's sell off due to news is a worry, but if it can push on tomorrow then nothing to worry about.
Im not a fan of gap ups, but entry on tuesday (dependant on tomorrow), could see a healthy 7% + gain come before any resistance.
