Retail leader $DG with tight base
Updated
Dollar General is a huge discount retailer that plans to get even bigger.
After a nasty island reversal in May,
DG has recover very well. This tight action in price has caught my eye and today is making an inside bar with pivot buy at $256.10.
You can even say that is forming a cup & handle.
The bad thing is that it publishes earnings next week so, expect volatility. But, as the I like this base, I'll buy half a position and wait confirmation with a breakout above $262.50.
DLTR is another retail leader that is making the same pattern.
After a nasty island reversal in May,
DG has recover very well. This tight action in price has caught my eye and today is making an inside bar with pivot buy at $256.10. You can even say that is forming a cup & handle.
The bad thing is that it publishes earnings next week so, expect volatility. But, as the I like this base, I'll buy half a position and wait confirmation with a breakout above $262.50.
DLTR is another retail leader that is making the same pattern.Note
After today's action, I closed the stop-buy.I'll wait for the set up to form.
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