zSplit

Dollarama: Investors Exaggerated Latest Earnings

TSX:DOL   DOLLARAMA INC
Dollarama is the only 'dollar store' in Canada and has actually posted some pretty good numbers and growth over the last decade and is setting themselves up for continued growth in years to come - especially as the global economy remains uncertain.

While their operational costs increased based on opening more stores - overall investors exaggerated this "increase" and have sold the stock off.

At this point, the stock will likely close the gap at $40 and from there a lot is worthwhile. It is also possible a slightly positive double bottom around $35 could happen but it would likely take some sort of widespread market correction to get it that low.

A great stock for capital appreciation from the $40 level.

- zSplit

Comments

Looks like it's sandwiched between 43.90 and 43.25 resistance and it has a bullishly divergent RSI,but histogram on the MACD is still ticking down. Fingers crossed for it to break down tomorrow!

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