';
Views Article – Sharenet Wealth

Crypto, Share Picks

Discovery Holdings Ltd: Could Recover?

BOTTOM LINE: DSY failed to breach the upper slope of its long-term bull channel and corrected.

(Click image to enlarge)image1

Possible scenario:

We had recommended a sell below 17,150cps in March with the first target situated at 15,375cps. Because the 3W RSI is mega-oversold, a near-term recovery should be underway – we suggest investors close short positions as DSY could reverse back to the 17,150cps mark. Above that level DSY could retest its all-time high at 19,365cps.

Alternative scenario:

If the RSI recovers, but DSY fails to trade beyond 17,150cps, go short and increase positions below 15,375cps. Support at 13,170cps could be targeted.

banner


Moxima

Moxima Gama
Technical Analyst, Sharenet

Moxima has a B.Comm Finance from the University of South Africa and is a certified Chartered Market Technician Level 2, currently completing Level 3. She has been a technical analyst for 10 years, working for BJM, Noah Financial Innovation and for Standard Bank as part of the Research Team in the Treasury Division of CIB. She now runs her own business, The Money Hub, and consults for Sharenet. Moxima has been rated as one of the top 5 technical analysts in South Africa and outperformed the market during the recent recession. She regularly makes an appearance as a guest on CNBC Africa and writes often for Finweek and Sharenet’s Views.

Read an interview with Moxima, or discover Moxima’s trading insights via Sharenet’s Technical Analysis Newsletter.


Like this article? Get more like it and exclusive market alerts before the general public by subscribing to free Sharenet newsletters using the form below.

Register

We want to get to know you

* Required Fields