Looking at Dollar General, depending on your position it might be a good time to sell and buy back in at lower prices to maximize your gains or if you have taken a short position the recent candles closing below the trend line
along with dropping below the 20 MA which has acted as support and resistance
should confirm your positions. RSI
will probably warm up with small bounces that aren't worth trading from the looks of it in the short term, in terms of being hard to time. When long term charts are showing Neutral RSI
, short term RSI
can get extremely extended depending on the time frame so as always zoom out, keep your stops tight and protect your capital. Hope everyone has great week, and with these markets there's enough money for the bulls and the bears if you play your trades accordingly.
This thing has run hard for a while, and needs a correction so this could be a healthy thing in terms of long term investment even though it seems overextended to me, for shorter trades it is a chance to maximize profits.