Dollar Tree heading higher!

Cup & handle pattern followed by inverted head & shoulder (I understand that this is not how it is typically applied, but personal observation shows it is effective to show continuation as well) on the Weekly chart.

Looking like it should head back to $115-118 resistance area. If it breaks out of it, then it might go to $135-150 area.

Disclaimer: I'm not giving trading and/ or investment advise. Only showing my chart observations.

If you have any symbol that you'd like me to analyze, feel free to drop a comment.

Thanks!

Note

This is a Weekly chart, and so look for reversal on the Daily chart before entering.
It does look like it might still go down further to $90-95 area for now

Note

With the broad market selling off, it might be weeks before this chart pattern works out..that's if it's still valid

Note

Last week's selloff didn't affect DLTR much but don't think we are out of the danger zone yet.

Note

having a, what i call, sideways consolidation now, which should mean a strong up move should happen some time next week.

But it price breaks below $105, then this setup might be invalidated

Note

Didn't break below $105, instead it looks to break out of the sideways consolidation today or tomorrow

Note

Didn't break out of the sideways consolidation but setup is still valid.

Trade closed: target reached

Target profit 1 hit!

leslieyimsm

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

leslieyimsm

Also on: