DISCA - falling despite a bouncing market

Despite the broader market seeing a rather significant bounce, Discovery Communications (DISCA) settled significantly lower for the second consecutive day, -1.4% @ $26.02 (intra low 25.27). Near term outlook is bearish, with a mid term target of the 22/20 zone.


DISCA, daily

DISCA, monthly

Summary

Little to add

To be clear.. I like DISCA (and I'm not just thinking about the shows - Gold Rush, Bering Sea Gold). It is one of the better TV/media companies.

Once the broader market levels out... whether in Q4.. or Q1 2016, I would be seeking to pick up DISCA for a mid/long term hold.