Stock Chart DLTR

Stock Chart Analysis DLTR

Dollar Tree, Inc. (Public, NASDAQ:DLTR)

Wow, I actually found a chart that looks decent. DLTR, and the other dollar stores like NDN and FDO for that matter have held up fairly well throughout the recent crash. They all look like they want to challenge their recent highs and if the markets rally like I suspect they will, then they should accomplish the feat. DLTR looks like it has very good support at 31 and it appears that it cleared the channel it has been using to pullback. It looks like this is an obvious play in a recessionary environment as consumers look to save money, and maybe this is the gameplan for institutional money flowing into this group. While it is extended from the lows, I'm not sure how deep a pullback it will give, so I will probably look to intraday charts for a possible entry. I typically use 60 minute charts for possible entries on swing plays, so a pullback into the 20ma is a possible area for an entry.


Good Trading,


Joey

for more analysis, check out downtowntrader.com