• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Discovery Comm-A (NASDAQ:DISCA)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Discovery Comm-A (NASDAQ:DISCA) based on the price action in the company's shares. Yesterday's price range of $20.88 and $21.42 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Discovery Comm-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Discovery, Inc. provides non-fiction entertainment. The Company operates a wide range of educational television channels, as well as offers consumer and educational products and services and a diversified portfolio of digital media services. Discovery serves customers worldwide.

In the past 52 weeks, Discovery Comm-A share prices have been bracketed by a low of $17.12 and a high of $33.65 and closed yesterday at $20.37, 19% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 2.3%.

There is potential upside of 36.1% for shares of Discovery Comm-A based on a current price of $20.37 and an average consensus analyst price target of $27.71. The stock should run into initial resistance at its 50-day moving average (MA) of $23.47 and subsequent resistance at its 200-day MA of $28.23.

SmarTrend is monitoring the recent change of momentum in Discovery Comm-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Discovery Comm-A in search of a potential trend change.

Keywords: bullish am inside day candle discovery comm-a

Ticker(s): DISCA