Discovery Stock Chart Analysis: Sell Short Trade Alert

Shares of Discovery Inc (DISCA) surged today on the back of better-than-expected earnings. While bullish news, the Discovery stock chart analysis signals a sell-short swing trade. Not only is the stock up 37.5% in just two weeks, but price just ran into a major trend line of resistance. In addition, the RSI is at a whopping 87, a level that is ultimately unsustainable in the near-term. Discovery stock chart analysis signals a pull back to $49.75 in the next week or so, good for a 10% profit for swing traders.

(Click on image to enlarge)

Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.