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Dicks Has Snuck to New Highs

BATS:DKS   Dick's Sporting Goods Inc
Dicks Sporting Goods has been rallying since November, and now it may be breaking out.

The first pattern on today’s chart is $149.73, the previous daily closing high from March 8, 2023. The retailer stalled around this level in August and December. However, it broke above the price zone in mid-January and made a new low there last week. Has old resistance become new support?

Second, the bullish price gap on November 21 after the last set of quarterly numbers may reflect improving fundamentals.

Third, the 8-day exponential moving average (EMA) has remained above the 21-day EMA. That may indicate the short-term trend is bullish.

Next, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA in early January. That may indicate the long-term trend has gotten bullish.

Finally, MACD has recently turned positive.

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