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DISCOVERY LTD

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DSY trade ideas

JSE:DSY Discovery Spring or Test in Phase BAfter a Selling Climax (SC), Automatic Rally (AR) and Secondary Test (ST) in Phase A we have now seen the bottom of the range being tested a second time. This looks a lot like a potential spring in Phase C but we have not seen a good contraction in volume in Phase B so this still could just be a test of the TR. However, the result should be the same with a test of the top of the TR. We have seen a significant bar confirming the reversal.
JSE:DSYLong
by SteynTrade
Long Top5 oversold/overbought according to RSI & $JSEDSYEnd of week 15Feb19. Another week dominated by Resources. FTSE/JSE Allshare ( JSE:J203 ) Top5 oversold/overbought according to 14day RSI indicator as follow: JSE:OMN 14 JSE:WBO 16 JSE:DSY 23 JSE:TON 23 JSE:MNK 28 JSE:IMP 83 JSE:AMS 80 JSE:KIO 80 JSE:BHP 79 JSE:SGL 75 Spending a few minutes on one of the most oversold companies of the week (according to RSI ), namely Discovery. Technically it broke it's long-term bullish trend started in October 2017. This was due to a very negative trading statement released yesterday, stating that Discovery's normalised undiluted headline earnings per share for the six months ended 31 December 2018, is expected to decrease by approximately 16% to 366.6 cps (2017: 438.5 cps) compared to the prior comparative period. They contributed this negative surprise on the spend on new businesses, which increased significantly over the period. They further stated that this will amount to approximately 21% of Group earnings. Last week ( I felt that Pik'nPay could be due for a bounce, but this week I'm worried about Discovery. Buying it at current levels could be like catching falling knifes, seeing that both the 50-day & 200-day moving averages are still very much pointing downwards. I would therefore hold off on buying too soon. Next resistance should be around R139.79, with a break most probably testing the R127.76 levels. Should the share recover and break R149.50 soon, then 50-day moving average at R156.42 should be next resistance. Personally, I'm going to wait for this one to turn the tide a bit.
JSE:DSY
by SchalkLouw
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
JSE:DSY Discovery showing strengthDiscovery (JSE:DSY) is showing strong leadership as compared the JSE Wyckoff Wave (10 Core JSE stocks). The OBV is indicating bullish pressure. The stock has broken the 200 Day SMA, is above the Monthly and Yearly Pivot Points and is now pushing up against a significant volume cluster at 180 formed by the consolidation at the previous highs. On Thursday there was significant volume pushing up to this level and the JSE Top40 has also shown strength. If price pushes above the 180 level, the previous high could be tested with momentum behind it.
JSE:DSYLong
by SteynTrade