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SmarTrend Watching for Potential Rebound in Shares of Discovery Communications After 1.27% Loss

By David Diaz

Discovery Communications (NASDAQ:DISCA) traded in a range yesterday that spanned from a low of $25.44 to a high of $26.09. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $25.97 on volume of 2.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Discovery Communications on May 4th, 2016 by issuing a Downtrend alert when the shares were trading at $27.05. Since that call, shares of Discovery Communications have fallen 4.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Discovery Communications has traded in a range of $23.74 to $34.94 and is now at $25.47, 7% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.

Keywords: rebounders Discovery Communications

Ticker(s): DISCA