After almost a year long consolidation between $67.50 and $79.50 it looks like it will try to break north. Could see some more consolidation around $80-$82.50 but after that it should revisit the highs. This is a long term play, could take a year for it to reach the highs
I like this stock and this is why:
There is a really nice breakout of a flag pattern.
The candle today was very strong and did engulf the candle of yesterday so that shows the power of the bulls.
When you see a nice move up like that, the stock usually retrace after that and this is what happened, the stock did retrace and after a retracement there is often a...
In my view bullish flagg with the opportunity to move nearly 84 USD. The Stop must be somewhere at 69 USD. So with an entry at todays condition the risk/reward ratio is to bad to trade. Well, probably use a limit buy nearly 75, where is the 38.2 % retracement of the move.
DG is a good profitable company with consistent growth.
drop off to 68$ because The earnings reported missed the analyst consensus estimate by 0.01$.
close to 200 moving average and rsi is on 30.
a very strong support at 66$ should at least short squeeze to stock to 70$ - 75$.
This is good stock to see what will happen around $70.47 region. This is a weekly chart looks like a weekly the trend is in motion . Wait and see what will happen on the daily support Zone.
Divergence between price & technical indicators
Recent price movement shows a potential completed structure
Broke the up trend line
will short if bounce back
Strong start YTD. Rolling back towards ema50 (Red MA). It may not touch, cross, or dip this attempt. But it might provide a long entry for interested parties after this near term bearish correction.
*Note: Given time and price action, ema50 always catches up to price before continuing or reversing.
We do have an uptrend. After three consecutive days , we see the oversold status of the indicators as our entry signal.
Our target is the last five days high. and our stop is 5% below our entry point
