DISCK dominated by bulls lifting the market higher throughout the day
Discovery Inc. (DISCK) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving higher for the 10th day in a row, DISCK finished Thursday at 24.15 surging $1.01 (4.36%). This is the biggest single day gain in over a month. Today's closing price of 24.15 marks the highest close since February 27th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 23.95, the share confirms its breakout through the prior session's high having traded $0.23 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (DISCK as at Jun 14, 2018):
Thursday's trading range was $0.84 (3.6%), that's above last trading month's daily average range of $0.69. Weekly volatility is also higher, being way above the markets average with the monthly volatility being way above average.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
With prices trading close to this year's high at 25.27, upside momentum might accelerate should the market be able to break out to new highs for the year.