DLTR - DAILY CHARTHi, today we are going to talk about the Dollar Tree and its current landscape.
Yesterday, the Food and Drug Administration (FDA) that held its committee meeting today for a series of deliberations, among them the FDA issued to the Dollar Tree a warning about the company has sold potentially unsafe drugs in its stores. These drugs had origin on certain manufactures that were warned by the FDA last year over multiples violations. Dollar Tree will disclosure its earnings on Nov. 26 and can disclosure the possibles impacts of FDA warning on its next quarter guidance.
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DLTR
Long DGI played a put position overnight due to bad market condition knowledge from Dollar tree earning last week.
However, i liked that DG earning call mention share buy back and increased dividend
This will probably make dg a buying opp today.
Looking to catch the bounce at $110.80 with a stop loss at $109 and take profit at 116ish.
Sell the breakoutOn DLTR stores clear rising wedge in a downtrend,
like mentioned before a breakout can occur upwards or downwards, but in a bearish trend I am looking for more confluence indicators to confirm the trade.
On a large timeframe I will wait until the candle closes below structure to under. Looking for market to rally into the $90-$95 range before a potential breakout.
The initial target is market below around $78
Cheers!
Hello DLTBuy Price: Yellow Line
TP: Green Lines
Invest Suggestion: 5-10 Percent
Just hold and watch. All targets will be reached within 1-3 days as my expectations. But sell after 6-7 days if any target not reached. Good Luck
Thanks for visiting.