The Greedy Trader Weekly Analysis
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Archive
- 1/12/2018
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Discovery Communications
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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Williams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceBearish Deliberation CandlestickDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price touches the upper Bollinger Band
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It was a first positive week for the Discovery Communications (DISCK). During the week, the DISCK gained 2.21 points, or 10.63%, and closed at 23.00 on Friday, January 12, 2018. Weekly volume was 56% above average.

Long-term trend: [See DISCK long-term trend chart]
A long-term downtrend had started on July 17, 2014 at 85.32 and reached 14.99 on November 15, 2017. DISCK lost 70.33 points, or 82.43%, in 173 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (13.19) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. DISCK may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See DISCK medium-term trend chart]
A medium-term downtrend had started on April 24, 2017 at 29.18 and reached 14.99 on November 15, 2017. DISCK lost 14.19 points, or 48.63%, in 29 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 21.66 and resistance is at 23.95. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See DISCK weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 8, 2017. The distance between MACD and the signal line is near its high and getting bigger. Use the following link to access a MACD help.

Short-term trend: [See DISCK short-term trend chart]
A short-term uptrend had started on January 10, 2018 at 20.03 and reached 23.02 on January 12, 2018. DISCK gained -2.99 points, or -14.93%, in 2 days. Price is near the trend high.

Daily Technical Indicators: [See DISCK daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price touches the upper Bollinger Band. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Candlestick pattern: [See DISCK candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.19
Bearish
Williams' Percentage Range (W%R) 4.40
Strong Overbought
Lane's Stochastic (%D-Slow) 61.97
Bearish
Greed/Fear Indicator (GFI) 71.26
Moving Average Converg./Diverg. (MACD) 0.85 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.70
Williams' Percentage Range (W%R) 2.60
Strong Overbought
Lane's Stochastic (%D-Slow) 82.94
Overbought
Greed/Fear Indicator (GFI) 79.99
Moving Average Converg./Diverg. (MACD) -1.55
Trading Signals
Description Value Chart
Monthly Trendline Resistance 25.23
Quarterly Trendline Resistance 23.95
Upper Bollinger Band 23.00
Price 23.00
Daily Stochastic Crossing 22.13
Weekly Stochastic Crossing 22.00
Quarterly Trendline Support 21.66
20 Day Moving Average 21.30
Monthly Trendline Support 20.38
Parabolic System 20.13
Lower Bollinger Band 18.98
50 Day Moving Average 18.74
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 20.03
Low Date 01/10/2018
High 23.02
High Date 01/12/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 20.03
Low Date 01/10/2018
High 23.02
High Date 01/12/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 25.23
Support 20.38
Low 14.99
Low Date 11/15/2017
High 23.02
High Date 01/12/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Rising Channel
Status Valid
Resistance 23.95
Support 21.66
High 29.18
High Date 04/24/2017
Low 14.99
Low Date 11/15/2017
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 14.97
Support 13.19
High 85.32
High Date 07/17/2014
Low 14.99
Low Date 11/15/2017
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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