How the price action of Discovery Communications (DISCA) is used to our Advantage

December 22, 2021, 07:30 am ET, BY Billy- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Discovery Communications (NASDAQ: DISCA) data table below can help you with price action, and we have more details too. Trading plans for DISCA are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for DISCA

• Buy DISCA slightly over 23.03 target 33.57 stop loss @ 22.96 Details

The technical summary data tells us to buy DISCA near 23.03 with an upside target of 33.57. This data also tells us to set a stop loss @ 22.96 to protect against excessive loss in case the stock begins to move against the trade. 23.03 is the first level of support below 23.51 , and by rule, any test of support is a buy signal. In this case, support 23.03 is being tested, a buy signal would exist.

• Short DISCA under 33.57, target 23.03, stop loss @ 33.67 Details

The technical summary data is suggesting a short of DISCA as it gets near 33.57 with a downside target of 23.03. We should have a stop loss in place at 33.67though. 33.57 is the first level of resistance above 23.51, and by rule, any test of resistance is a short signal. In this case, if resistance 33.57 is being tested, a short signal would exist.

Swing Trading Plans for DISCA

• Buy DISCA slightly over 33.57, target n/a, Stop Loss @ 33.47 Details

If 33.57 begins to break higher, the technical summary data tells us to buy DISCA just slightly over 33.57, with an upside target of n/a. The data also tells us to set a stop loss @ 33.47 in case the stock turns against the trade. 33.57 is the first level of resistance above 23.51, and by rule, any break above resistance is a buy signal. In this case, 33.57, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short DISCA near 33.57, target 23.17, Stop Loss @ 33.67. Details

The technical summary data is suggesting a short of DISCA if it tests 33.57 with a downside target of 23.17. We should have a stop loss in place at 33.67 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 33.57, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for DISCA

• Buy DISCA slightly over 23.82, target 33.57, Stop Loss @ 23.76 Details

If 23.82 begins to break higher, the technical summary data tells us to buy DISCA just slightly over 23.82, with an upside target of 33.57. The data also tells us to set a stop loss @ 23.76 in case the stock turns against the trade. 23.82 is the first level of resistance above 23.51, and by rule, any break above resistance is a buy signal. In this case, 23.82, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short DISCA near 23.82, target 23.17, Stop Loss @ 23.88. Details

The technical summary data is suggesting a short of DISCA if it tests 23.82 with a downside target of 23.17. We should have a stop loss in place at 23.88 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 23.82, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

DISCA Ratings for December 22:

Term →	Near	Mid	Long
Rating	Strong	Weak	Weak
P1	0	0	15.45
P2	22.87	21.83	23.03
P3	23.82	23.17	33.57

Support and Resistance Plot Chart for DISCA

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