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DLTR drops after earnings follows the market down
Dollar Tree, Inc.
Long
DLTR drops after earnings follows the market down
By AwesomeAvani
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Aug 24, 2023
1
Aug 24, 2023
DLTR dropped on a mild earnings beat. It is now below a volume shelf at 128.
Indicators including the MACD suggest a reversal as bullish divergence is showing.
The mass index supports a reversal. On the dual time frame RSI, the low TF green line
is above the higher TF black line which is weaker. Overall, DLTR could retrace to 133
based on the Fib retracement tool However, I will not take this trade until price crosses
above the POC line. !33 will be the first target and 134.5 the second target being the mean
VWAP. I will take a call on options trade as well. I will only enter if the general market indices
appear to be upgoing which is a challenge given the upcoming Powell speech at Jackson Hole
If the market is down turning, the trade will be paused and reassessed at early next week.
Beyond Technical Analysis
consumerstaples
DG
DLTR
Earnings
Fibonacci
jacksonhole
powell
powellspeaks
AwesomeAvani
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