Stock Chart DLTR

Posted by downtowntrader | 4/27/2008 11:17:00 PM | 0 comments »

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,


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