Textbook DLTR short. Massive consolidation with a large gap on either side. The consolidation broke down, retested the consolidation, and was rejected. Additionally, even with the cross-market rally, DLTR did not move as much as other stocks that bounced from the market relief. Lastly, DLTR is almost exclusively owned by institutions, the setup is textbook, and the gap down allows for a great risk-reward ratio from near-the-money options, making this play a high conviction trade.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.