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so i read this interesting article where it covered the new five stocks that michael bury from the big short added to his asset management company and i thought that this would be a pretty interesting topic to cover when i perform a technical analysis on my youtube channel i've never done this before i'd love to continue to do it and if you find it useful please drop a thumbs up consider subscribing if you feel like we earned it let's go ahead and jump right to it the first one is ticker symbol geo one of the first things that i want to encourage you to do is please make sure that you perform your own analysis and seeing if you see value in this in your own way when it comes down to geo on the technical aspect not on the fundamental side but we can see that on the day chart it's been getting rejected for the past year it's been making lower highs and lower lows and there really hasn't been a change of direction the sma line has been acting as a consistent resistance level bringing down the lower highs and as well as the lower lows over a long period of time now taking an additional step back you could see that based off of geo's month chart right it has pulled back quite a bit from previous highs at 31 but we are still way below the ema line and not indicating any signs of a reversal so i'm not sure if that's necessarily what he's looking at that it looks like it's oversold on the month chart or on the much larger time frame but as of right now when it comes down to the four hour time frame or even the day chart you can see that it's been consistently selling off for quite some time and i just again don't find this to be the most attractive stock based off of its current direction direction can always change which is why i set my alert for the break above ten dollars and the break above twelve dollars just in case we get any indication of a reversal now i also set my alert for the break below five dollars just in case this thing returns to previous lows and makes new lows on the day chart let's go ahead and move on to ticker symbol ovv and on the day chart you can't really see much as there's a consistent change of direction but on the month chart you can see a little bit more of this consistent descending channel making lower highs and lower lows and if anything based off of previous resistance levels and how it's been descending we're a little bit more on the overbought side based off of the macd and rsi and could anticipate a potential pullback coming soon if it follows through with this consistent descending channel now of course patterns tend to repeat themselves they don't always have to so we can easily see a change of direction so i go back to the day chart and i would love to see something like ovb indicates signs of a reversal but again until proven otherwise it wouldn't really make sense for me on the technical aspect to take a position let me know your thoughts in the comments section this is one that i found rather interesting on the day chart it has recently pulled on back based off of previous highs and when i read a little bit more on why scion asset management decided to sell their shares just a couple months ago and then buy back their shares after march is because of this original pullback from 79 all the way down to 34.
they simply said that they sold their position as it was making higher highs or hit new highs when it comes down to discovery but as it pulled back it brought the stock itself back to previous price levels where they found it to be attractive and see more upside potential so as of right now uh d-i-s-c-a as in discovery is not indicating any signs of a reversal just yet but based off of previous resistance levels at 79 and from where we're at right now obviously offers a lot of upside but again it's still getting rejected by the ema line still making lower lows lower hides it looks like it's trying to establish a support level at 26 but no confirmation of a reversal so i'm going to keep it pretty simple on this one and just set an alert for the break above 30 dollars and again the break above the sma line which is around 38 so if it actually begins to indicate signs of an uptrend i can follow up with discovery when the direction is actually in my favor and because there's so much upside potential based off of previous highs i don't have to rush into it which i find it to be very attractive when it comes down to discovery the last two stocks i find pretty interesting as they're in the health industry which kind of makes sense right especially as we're transitioning from being in a pandemic and trying to transition into back to normal or business as usual it makes sense on why companies like cvs or like cardinal health is something that might grow in demand over the next couple of years especially if this type of uncertainty continues to follow so looking at this on the day chart i don't see a very consistent direction as again we continue to make higher highs and higher lows but it's kind of all over the place it's not until you look on the month chart where you can actually see well based off of previous size that it's set up in 2015 the pullback that it experienced in 2020 it established a support and it looks like it's trying to recover to previous highs now again this is back in 2015 make sure you take that into consideration and we've been making lower highs ever since then but now that we are again seeing a higher demand of this type of business right when it comes down to health and everything it is when it comes down to the fear of covid it would make sense on why demand levels might increase over a period of time so i can see why it is that he sees value and again one of the largest health chains in the united states it's been making higher highs ever since the overall pandemic and it looks like it's working towards the previous highs of 107 a share which if i'm not mistaken from where we're at right now to previous eyes offers a little bit over 27 potential uh when it comes down to if it were to make a full recovery so what we can do here is we can simply set an alert and if it continues to indicate signs of an uptrend then again we will be alerted when it comes down to the last dock ticker symbol cah you can see that based off of previous price levels it hit its peak in 2015 very similar setup it pulled on back very similar to cvs consolidating and establishing a support right around that 50 range and we're not far from that as of right now again another health stock itself it makes sense on why demand levels might increase over a period of time but as of right now on the technical aspect we're not seeing any indication of higher highs or higher lows just yet but again things can definitely change i can set my alert for the break above 63 dollars and if we begin to see higher highs and higher lows than based off of where we're at as of right now and if it were to return to previous levels that we experienced in 2015 that would offer a 66 return and based off of levels that we experienced in 2003 which of course was nearly 20 years ago that offers nearly a 40 to 50 percent return which i find to be rather interesting this is just the really cool thing about the current stock market today is that we have access to what this series of hedge funds are investing in and i think that it would be pretty interesting for me to continue to make these videos kind of more on the technical aspect which i feel is a little bit more modern uh and being able to get their fundamental analysis and then being able to get our technical analysis just to be able to share thoughts with one another at the end of the day make sure that you only put your money in areas that you personally see value in i just thought that we can make this interesting video and sharing ideas especially with one of the most successful asset management companies uh today right in the past 10 years i think they've grown a little bit over 320 percent making them one of the most successful hedge funds today so i'm very excited follow up i hope that you guys learned something new if you guys enjoyed this video please make sure you drop a thumbs up consider subscribing and i'll see you tomorrow during our live training session if you'd like to watch me trade live click the second link down below and i'll see you at market open until then like always let's make sure that we end the year on a green now take it to team
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