Dis-Chem Pharmacies (DCP, 2127c) | The name continues to be a 'steady grinder' from our last buy call at 1715c, +24% (30 July). At current levels, the share is in the latter stages of developing a bull flag technical formation while also attempting to break to the upside the base in place since 12 May 2020. The bull flag is around 55-60% complete which means we would see come consolidation in coming sessions however traders should monitor for a breach of the bull channel as a trigger that the next leg is about to commence. Also note the price attempting to find support on the second tier of the aforementioned multi-month base.
This chart forms part of a larger research note.
This chart forms part of a larger research note.