Stock Chart Analysis DLTR
Dollar Tree, Inc. (Public, NASDAQ:DLTR)
I've been seeing a lot of these Reverse Head and Shoulder / Rectangle bottoming patterns in stocks recently. A large portion of these have been in retail stocks as well. So either retail stocks have been bottoming out, or this is a bull trap setting up. Either way, money can be made short term by playing the breakout attempts. I am showing a chart of DLTR below showing a clear move above the recent trading range. I am seeing similar charts in LOW, HD, and JWN. Volume was a little light on this one, and it has to contend with the 200 day sma above it, but overall it looks like it wants to test higher prices.
Good Trading,
Joey
for more analysis, check out downtowntrader.com
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