DG's relative performance vs SPY is highly correlated with TLT on a weekly basis. Recent breakdown in correlation gives a good trading opportunity
Either DG is mispriced vs SPY or TLT is very cheap
Just broke down from its rising channel. Divergence seen on Acc/RSI/MFI (tho not a real double top, but close enough) Not many stocks these days where you can see distribution on the daily TF so I think it means something...
Watching for rejection from either lower trendline of previous rising wedge or top of current downward channel... Neckline indicates a PT of gap fill around $89. A breakout above $112 (left shoulder) invalidates the trade for me.
Is this gets below my enter line you can trade this to the 200 MA on the daily chart. You can use put options for people low smaller accounts. don't get in early way for the break down.
Although this is a retracement trade, price recently made a break from consolidation and is now testing trendline support and of course 50EMA.
A bullish divergence has also formed on Stochastic.
SSB: Follow entry guide as per usual.
$DG Dollar General - Bearish Rising Wedge on Declining Volume.
See chart for two possible near term targets.
Note: Informational analysis, not investment advice.
Zacks Rank: 2-Buy 2 Style Scores: B Value | A Growth | D Momentum | B VGM Industry Rank: Top 9%(22 out of 255) Industry: Retail - Discount Stores
comments welcomed
Another trade idea active on DG
Entry at $107.20
Target at $112.35 and 2nd target at $127.12
Stop at 102.77
DG bullish run on for months. Tis pullback set it up for a good buy opportunity, get it at a discounted rate.
Earnings in December so little time for the run.
it has the potential to achieve 6.52R at a target 3 of $136.15 be aware of the resistance at...
Dollar General hit an all time high 4 days ago at $109.05
It found a good resistance point and its now struggling to keep that high.
Could that be an indication of the earnings results in 2 days?
Entry: $108 (23/08)
Dollar General popped up on my scans today.
Weekly Chart looks BULLISH
Accum/Dist, On Balance Vol, Stochastics, MACD and RSI are trending up BULLISH
POSITION: 5000 SHARES
PRICE: $103.77
Pretty interesting one. $DG most recent drop was in part to earnings, but haven't been over the report to find out details (yet). Beginning of 2018 was easily a great start to the year (as was for... just about every sector) but for dollar general in particular ; accumulation / distribution seeing highest level since 2012 (before plummeting). Even then, recovered...
