Discovery Communications Broke Resistance

Published on Wednesday, 18 January 2012 05:40 Written by TradersHuddle Staff

New York, January 18th (TradersHuddle.com) - Shares of Discovery Communications, Inc. (NASDAQ:DISCA) closed the trading session at $43.70 just above calculated resistance at $42.13 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Discovery Communications, Inc. (NASDAQ:DISCA) operates as a media and entertainment company worldwide. The Company operates a wide range of educational television channels as well as offers consumer and educational products and services, and a diversified portfolio of digital media services. The company operates cable and satellite television networks in the United States, including Discovery Channel, TLC, Animal Planet, Discovery Health, Discovery Kids, Science Channel, Planet Green, Investigation Discovery, Military Channel, FitTV, and HD Theater.

Discovery's stock was trading in a well defined range with support at $39.33 and resistance at $42.13, given that this range was broken traders will be closely monitoring the stock