(US) DLTR Weekly Breakout Huge BaseDLTR experience breakout it huge base (1386 days) on mid Nov with solid volume.
Price experience minor pull back for 1 month and attempt to break new high ground again.
Daily chart shown to have short base VCP setup. It also shown the resistance to drop while overall market experience major drawdown.
Let's see how it act.
Disclaimer:
Not buy call recommendation, just my sharing on technical analysis based on chart pattern development. Trade at your own risk.
DLTR trade ideas
DLTR - Dollar Tree, Inc.Bought position as the stock came thru the high-volume pivot from Dec 10. The stock has been one of the strongest in the market, gapping up and out of a very long-term base on an analyst upgrade in November and having a very strong day on earnings.
Since earnings, it has digested its move very orderly and with very low volatility. It looks like it may be ready to attempt another leg higher, but since this name does not have the strong earnings numbers I usually look for, I will be aggressive with profit taking.
Stocks To Watch This WeekThe Market's longer term uptrend still intact and things look cautiously optimistic. These names have shown good relative strength and accumulation volume and most are in the growth sector. This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 18 total stocks on this list Many of these have IPO'd in the last few years and still have a growth story ahead of them. Know your time frame and risk tolerance. Know your earnings dates! I go through these quickly so grab a pencil and paper and jot down the names that look interesting to you and then make the trade your own. Good Luck!
$DTLR / Long$DLTR has a lot going for it...
BULLISH
Is in a Stage 2 uptrend with price above a rising 30W MA.
Relative Strength is above its zero line.
Price moved up aggressively before consolidating for 21 trading days (just over 4 weeks).
The consolidation has seen 2 complete contractions. The first is 11% the second 7%. The current T is super tight with a 2% range.
Very little supply is coming to market with multiple green and red dot volume days (vol 40-60% below average).
Price action shows 2 very tight zones (including the current T). There are also multiple tight candlesticks and inside bars within the base.
The last bar is an inside bar making it actionable on the daily timeframe.
...but the fact price remains in the lower half of the base is a worry.
BEARISH
The last above average volume day printed a bearish bar (Dec 17th) although that day was quad witching.
Price hasn't printed a high low and the pivot buy point is sitting in the lower third of the prior T's range (low cheat).
$DLTR (Dollar Tree)Dollar Tree of Trendline support.
Bouncing off support with gap area to fill on the upside.
Took the 12/17 140Cs @ 3.08/contracts currently up 3-4% ROI.
Trade Action Plan:
Looking for the move to 137.85 & Above.
if this move can happen then expecting the gap fill to 140.30
Price targets above 137.50:
PT1: $138.50
Pt 2: $140.50
PT 3: $141+
Breakout Trade Idea for $DLTR$DLTR is coming out of its consolidation and downtrend and is resuming uptrend slowly with good pace. It can be a good buy for medium to longer term trading or investing. Buy $DLTR between 102-4 with SL 92 and hold it for next 6 months to 1 year for good profits. Target open
Disclaimer: For Educational purpose only. All disclaimers apply.
Expect better from Dollar Tree $DLTRFor the last few years we have seen DLTR stuck in a range between 67-115 (smaller range from 88-115). For this stock to continue and not offer some kind of dividend (I believe we are out of the growth phase) is unheard of.
If you compare the growth in retail at the moment between say TGT and BBBY, I know it's a stretch but this pricing needs to be adjusted somehow. ATM we are neutral to negative on DLTR looking for some kind of direction out of this range. Pick a side, either you are growth or you are looking to pay a divdend, we don't believe either at the moment.
DLTR Gap Fill ProjectionFirst chart I ever made so take w/ a grain of salt.
Decent gap to fill coming off previous earnings, symmetrical triangle forming consolidating nicely. Bollinger's getting tight after big expansion and RSI curling up. Personally using the 5ema (yellow) crossing the 20ema (red), strong buying volume and of course a break out of the triangle to confirm.
DLTR - Looking to longDLTR has been trending and gapped down after earnings. It's been consolidating in this range and formed a pennant. We are also forming in the daily a ttm squeeze. I wanna see DLTR get above the 6day SMA and have the emas trend bullish.
Contract Suggestion:
BTO DLTR 7/16 100C @ .96
LONG Idea IF Breakout Or SHORT from this Trendline | DLTR DollarLONG Idea IF Breakout Or SHORT from this Trendline | DLTR Dollar Tree
At the moment its very common case where price is just under the long-term trend line and can be a great short opportunity.
I do believe that price will Breakout with 1st target = 131-132$. But we will see =)
DLTR shakeout last week before push higher?!DLTR possible shakeout last week before push higher. I was part of that shakeout :). But still looks good with an entry over 117 now that there is a nice doji buy back candle on Friday.
This is a big macro level that was tested in Jan 2018 and October 2019. Very bullish chart!