DPZ has one of my favorite bearish setups.
Most bearish case = 470 by 5/14/'24 (earliest,if it hits by then this is only the initial target)
Least bearish case = 470 by 6/7/'24 (if it takes that long to hit it will see a relief bounce in June before continuing lower.
**Breakdown level = 517.95**
Stop loss = 526
~If 470 hits by 5/14-5/23, then its very likely we will see a dead cat bounce to 490s, followed by more downside to lower 400s in June.
Goal target is 380 (this could come later in 2024). 380 was the breakout level from back in 2023. We got a markup to 500s, and this downside will simply be a retest of that breakout level for support. If it holds then it can continue higher down the road.
#SorryDominosLoveYourPizzaButHateYourStock
Most bearish case = 470 by 5/14/'24 (earliest,if it hits by then this is only the initial target)
Least bearish case = 470 by 6/7/'24 (if it takes that long to hit it will see a relief bounce in June before continuing lower.
**Breakdown level = 517.95**
Stop loss = 526
~If 470 hits by 5/14-5/23, then its very likely we will see a dead cat bounce to 490s, followed by more downside to lower 400s in June.
Goal target is 380 (this could come later in 2024). 380 was the breakout level from back in 2023. We got a markup to 500s, and this downside will simply be a retest of that breakout level for support. If it holds then it can continue higher down the road.
#SorryDominosLoveYourPizzaButHateYourStock
Comment:
Added puts. Carry Out.
