Trade Idea: Dis-Chem Pharmacies
STRATEGY: POSSIBLE & PENDING PIERCING CANDLE
Time Frame: Short Term. Levels of chart.
My pre-market comments:
DCP is a recent pivot play that is providing another potential short term opportunity.
In the past few weeks, I've discussed the opportunities around piercing (reversal) candles. To refresh your memory, it's a candle where the price has been in a downward trend for several days however the prior day low is taken out and reclaimed, suggesting short term sellers' exhaustion and the possibility of a minor, but tradeable rebound.
On the attached chart, there is both a horizontal line and a gradual incline as well as two arrows highlighting a 'potential price path'.
Also highlighted on the slide are provisional trading levels (subject to change based on subsequent price action and news flow).
Further instructions also highlighted on the left hand side of the chart.
SIDEBAR Instructions:
Key Trading Levels For Buy/Long Opportunity
The highlighted levels may or may not trigger during the upcoming trading session.
Blue Lines = Preferred Buying Range
Required: If it trades around preferred entry, it needs to hold in the range with intraday strong bids.
TF = Short Term
If my ideas have benefited you and you're finding it useful, you know what to do....
Time Frame: Short Term. Levels of chart.
My pre-market comments:
DCP is a recent pivot play that is providing another potential short term opportunity.
In the past few weeks, I've discussed the opportunities around piercing (reversal) candles. To refresh your memory, it's a candle where the price has been in a downward trend for several days however the prior day low is taken out and reclaimed, suggesting short term sellers' exhaustion and the possibility of a minor, but tradeable rebound.
On the attached chart, there is both a horizontal line and a gradual incline as well as two arrows highlighting a 'potential price path'.
Also highlighted on the slide are provisional trading levels (subject to change based on subsequent price action and news flow).
Further instructions also highlighted on the left hand side of the chart.
SIDEBAR Instructions:
Key Trading Levels For Buy/Long Opportunity
The highlighted levels may or may not trigger during the upcoming trading session.
Blue Lines = Preferred Buying Range
Required: If it trades around preferred entry, it needs to hold in the range with intraday strong bids.
TF = Short Term
If my ideas have benefited you and you're finding it useful, you know what to do....
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