Discovery +15% Long Opportunity
DISCA appears to be doing bullish things to start the new week off as it continues to hold above a critical $30 price level.
It has consolidated nicely after breaking out of a supply line that has held it down for months now.
It is now beginning to make higher highs and higher lows on the smaller time frames and now has bullish confluence with the 21 MA and $30 support just below it. This will serve as very thick ice for the bears to break thru.
Look for an upside target of around $35 before traders begin to take profit. The 200 MA is also currently around this target area, which could serve as resistance as well.
It has consolidated nicely after breaking out of a supply line that has held it down for months now.
It is now beginning to make higher highs and higher lows on the smaller time frames and now has bullish confluence with the 21 MA and $30 support just below it. This will serve as very thick ice for the bears to break thru.
Look for an upside target of around $35 before traders begin to take profit. The 200 MA is also currently around this target area, which could serve as resistance as well.
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