More Discount At Dollar Stores?

Dollar stores big shots Dollar General (DG) & Dollar Tree (DLTR) are displaying similar chart patterns as of late. First up, DG. The stock is currently on support level 55. The level was once a resistance point in 2012. A break of the 55 level completes the 7 months Head & Shoulders formation and implies a target of $48.

dg

 

Meanwhile, DLTR despite registering a new ever high last year, failed to follow through, signaling weakness. As it stands now, DLTR is forming a 9 months Head & Shoulders, with 49.50 as the neck line which is the same neck line as the small H&S formation of 2012. A completion of the pattern would imply a conservative target at the gap of 2013 around $42.

Stop wasting time searching for trades and subscribe or follow @theartofchart

dltr

Advertisements


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s