DSY trade ideas
Head and shoulder on Discovery after a bullish divergenceWe have a nice head and shoulders pattern. Waiting for a break above the 13472c neckline. My target using the height of the distance from the head to the neckline, projected upward is 11839c. We had a bullish divergence when the left shoulder and head were formed.
Can the financials run Break Discovery out the rangeWith the financials having been running lately could Discory break out of the R119 - R133 range. looking for a break to the upside as the 30w EMA is looking to cross the 60w EMA to the upside and 200d EMA as well
Discovery H&SA Head and Shoulders pattern has formed on JSE:DSY and we could be seeing a nice downward move all the way to the support level at the 10200 if level if it confirms a break through the neckline of the pattern.
DSY upward after H&S patternJSE:DSY seems to be on its way up after the down move of the Head & Shoulders pattern. It didnt quite reach the target, but instead found resistance on the 200 moving average. If it continues through the neckline upwards and uses it as support, I will go long.
DSY - Bearish WedgeClose below R114 triggers the short idea with first target at R107.50 and full target at 97.50 with a stop loss above R117.50 close.
DSY - MonthlyThe monthly chart highlights the share back below a key multi-year support zone as well as breaching the incline extending back to the March and April 2020 lows.
DSY - Potential H&S patternA close below R120 will trigger the short idea. Target of R103 with stop loss a close above R135.
Conflicting signals on Discovery Discovery
The insurance giant is giving some conflicting signals. A possible restest of the 200 Week EMA after breaking it and having a golden cross. A possible bullish rectangle flag, and a possible head and shoulders pattern. The share currently trading around the 200 EMA. Let’s wait and see which side wins this one. Bull or the bears
Weekly game plan: villagetrader.co.za
DSY SHORTDSY a head and shoulder formation is forming.
A break of the neckline will see a test of the 200dma as the short target
Triangle continuous pattern JSE:DSY
A nice triangle continuous pattern formed to target the R135 level.
DSY ASCENDING TRIANGLEDSY BREAKING AN ASCENDING TRIANGLE AND ALSO A GOLDEN CROSS ON SMA. TP AROUND R135
