Trading Discovery: Long/Short

Trade Discovery Ltd with Unum Capital.

To get started, email lester@unum.co.za

Now rebounding, in line with my previous post (28 January) as well as the prior day (27 January) price action model reading.

Longs now trading 600c higher! (Traded above R186 today, from R178)

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Previous Post (Tuesday 28 January): Trading Discovery: R20 Lower, Consider Covering Short Position

For clients who may be short (i.e. have sold at higher levels), consider partially covering your short positions.

FURTHER UPDATE as of Tuesday 28 January (09h11):

The move is in line with our comments on 12 December, 02 January and then again on 15 January.

Previous Post: Discovery Ltd: Relative Distribution Phase + MACD Bearish Crossover

Points to note (also stated on the chart)

Previous Post: DISCOVERY Extended Relative To The JSE Top 40 Index

The chart reflects a ratio of of DSY relative to the JSE Top 40 Index where the distance versus the 40-week simple moving average reflects an extended level (+29% in December 2024).
Note the previous extension coinciding with bearish reversal, or at best, the start of period of consolidation.