DISCA - bouncing within a severe down trend

Whilst the broader market saw some declines, there was a notable reversal in Discovery (DISCA), which settled +3.5% @ $29.88 (intra low $28.20). Despite the intraday swing, near/mid term trend is broadly bearish, with primary target zone of 25/22.


DISCA, daily

DISCA, monthly

Summary

Little to add.

I very much Discovery (how could anyone not like Gold Rush?), but having annoyed the market with recent earnings, DISCA looks extremely vulnerable across the next few months.

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*I will strongly consider going long in the 25/22 zone late Sept/early Oct.