$JSEDCP - Dis-Chem: Bears Win Neckline War, No Support In Sight
The last time I covered Dis-chem was on the 18th of November 2022 and I cautioned on the rounding top formation.
I also said I would monitor price action at the 2834 neckline.
On the 17th of February 2023, Dischem issued a trading update for the period 1 September 2022 to 5 February 2023.
The Group focused too much of revenues in my opinion and did not mention much on earnings.
The following trading days have seen price break decisively below the neckline and it is difficult to find areas of support on the price chart.
This is where i say "short the rallies".
Dis-Chem’s results for the year ended 28 February 2023 will be released on SENS on Friday, 19 May 2023, at around 7:05 am.
I also said I would monitor price action at the 2834 neckline.
On the 17th of February 2023, Dischem issued a trading update for the period 1 September 2022 to 5 February 2023.
The Group focused too much of revenues in my opinion and did not mention much on earnings.
The following trading days have seen price break decisively below the neckline and it is difficult to find areas of support on the price chart.
This is where i say "short the rallies".
Dis-Chem’s results for the year ended 28 February 2023 will be released on SENS on Friday, 19 May 2023, at around 7:05 am.
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