Discovery Communications, Inc. (DISCA) Technical Analysis 12/10/2017

Discovery Communications, Inc. (NASDAQ:DISCA) fell by -2.58% in Wednesday’s trading session from $20.53 to $20.00 and has now fallen 6 consecutive sessions. The price has fallen in 7 of the last 10 days and is down by -6.85% over the same course of time. Volume has increased in Wednesday’s trading session by 0.73 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 3.97 M shares exchanged hands for about $79.37 million.

Inside DISCA’s Recent Trend

Discovery Communications, Inc. (DISCA) lies in the middle of a wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -22.18% over the course of a quarter and, with 90% chance the price will be floating in the range of $14.44 and $16.93 in this timeframe.

Discovery Communications, Inc. Technical Signals

DISCA has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $21.08 and $21.56. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Wednesday October 04, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume up and price depreciating is getting our attention as this movement is seen as bearish sign.

Discovery Communications, Inc. (NASDAQ:DISCA) Support And Resistance Levels

There is no support from accumulated volume below today’s level and given the right condition the stock may perform very badly in the next couple of days. In case of gains, the next resistance from accumulated volume will be at $21.34, $22.49 and $24.60.

Discovery Communications, Inc. (DISCA) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.65 (3.26%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 2.66%.

Discovery Communications is in oversold territory based on Relative Strength Index reading (25). In some cases it takes more time for the trend to shift while the stock is being oversold and the Relative Strength Index keeps moving.

Previous ArticleNext Article

Related Post

What Recent Ownership Trends Suggest About Transoc... Recent insider trends for Transocean Ltd. (NYSE:RIG) have caught the attention of investors. Patters in insider activity can help analysts formulate a...
Choosing Between Devon Energy Corporation (DVN) an... Devon Energy Corporation (NYSE:DVN) shares are up more than 10.17% this year and recently increased 0.68% or $0.31 to settle at $45.61. Carnival Corpo...
Noble Corporation plc (NE) is better stock pick th... The shares of Noble Corporation plc have decreased by more than -13.27% this year alone. The shares recently went down by -2.97% or -$0.12 and now tra...
Healthcare Realty Trust Incorporated (HR) vs. Part... Healthcare Realty Trust Incorporated (NYSE:HR) shares are down more than -15.41% this year and recently decreased -0.98% or -$0.27 to settle at $27.17...
A Comparison of Top Movers: Lightbridge Corporatio... The shares of Lightbridge Corporation have increased by more than 14.04% this year alone. The shares recently went down by -12.16% or -$0.18 and now t...