$DLTR offering another chance before heading higher?
Notes:
* I last spoke about this on July 6th, 2022 as it was coming up off of its 50 day line.
* Since then it has consolidated with lower than average volume (building a handle) and now it seems like it's ready to push higher as volume's coming in.
* It also printed a Pocket Pivot in the previous session indicating that it may be ready to go higher.
* Everything else is still the same as before.
Disclosure: I do have a position in this and am looking to add to it.
Technicals:
Sector: Consumer Defensive - Discount Stores
Relative Strength vs. Sector: 1.33
Relative Strength vs. SP500: 1.17
U/D Ratio: 1.24
Base Depth: 36.34%
Distance from breakout buy point: -3.21%
Volume 24.54% above its 15 day avg.
Trade Idea:
* You can enter now as volume's coming in
* If you want a better entry you can look for one around 166.1 as that seems like a pivotal area
* This stock usually has local tops when the price closes around 15.72% above its 50 EMA
* Consider selling into strength if the price closes 15.52% to 15.92% (or higher) above its 50 EMA
* The last closing price is 6.51% away from its 50 EMA
* I last spoke about this on July 6th, 2022 as it was coming up off of its 50 day line.
* Since then it has consolidated with lower than average volume (building a handle) and now it seems like it's ready to push higher as volume's coming in.
* It also printed a Pocket Pivot in the previous session indicating that it may be ready to go higher.
* Everything else is still the same as before.
Disclosure: I do have a position in this and am looking to add to it.
Technicals:
Sector: Consumer Defensive - Discount Stores
Relative Strength vs. Sector: 1.33
Relative Strength vs. SP500: 1.17
U/D Ratio: 1.24
Base Depth: 36.34%
Distance from breakout buy point: -3.21%
Volume 24.54% above its 15 day avg.
Trade Idea:
* You can enter now as volume's coming in
* If you want a better entry you can look for one around 166.1 as that seems like a pivotal area
* This stock usually has local tops when the price closes around 15.72% above its 50 EMA
* Consider selling into strength if the price closes 15.52% to 15.92% (or higher) above its 50 EMA
* The last closing price is 6.51% away from its 50 EMA
