DSY trade ideas
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
Discovery Channel HoldingDiscovery channel holding for now, forming Ascending Triangle, monitor break for direction
Disclaimer: The views provided herein do not constitute financial advice.
Please feel free to comment, critique or add to my view, I welcome feedback, whether it agrees with my views or not.
This idea is based on my strategy, please consider your own before using it in any way. Always use a stop-loss and manage risk.
