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Dollar Tree, Inc.Dollar Tree, Inc.Dollar Tree, Inc.

Dollar Tree, Inc.

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DLTR trade ideas

Long Dollar treeHey guys, these are my thoughts on Dollar tree: So as you can see there is HUGE support line that goes from february 12 last year to today so this is a very long support line and since then the stock never broke trough that line. That tells me that this support line is very strong. Since the beginning of that support, the stock touched the support line 5 times and each time it happened , the stock bounced for a nice uptrend move and this is what im expecting tomorow also. The support line is great but i also like the formation of the candles. Today, the stock did not move much and the candle was a little candle and in my book that shows that people are indecisive. Indecision in the stock market often creates a change of direction in the trend. The stock moved down 3 days in a row,then the stock slow down, make a little indecision candle (type of harami) at a huge support line so my thougts are that the stock will reverse for a upside move. Not only the candle is an harami, but also we can say that with the candle of yesterday and with the candle of today , we can tell it is a nice bullish harami pattern. This pattern means that people are indecisive and uncertain about the downside move and the power of the prior move has now diminished
NASDAQ:DLTRLong
by WilliamL
Support zone approaching for Dollar TreeTechnically Speaking Price is approaching the support zone, say 72-76 level. The next support level I see on the chart is the 61ish level. For me, the better R/R might be waiting for the latter level to be tested, but it may never get there, that is the risk you run by waiting. Note, if you are a buyer at these levels, determine where you will get out. If you hold until the next support level, that could be painful. Fundamentals If you are not familiar with what they do, here is a link to their website: www.dollartree.com One of the best lessons I have learned is the ability to cut losses quickly. This definition will be d/f for everybody, but experience has taught me, that limiting losses is the surest way to success. It is just so hard to pull your way out of deep drawdowns. Enough preaching. Have a good day.
NASDAQ:DLTR
by CalebDismuke