I played a put position overnight due to bad market condition knowledge from Dollar tree earning last week. However, i liked that DG earning call mention share buy back and increased dividend This will probably make dg a buying opp today. Looking to catch the bounce at $110.80 with a stop loss at $109 and take profit at 116ish.
DG's relative performance vs SPY is highly correlated with TLT on a weekly basis. Recent breakdown in correlation gives a good trading opportunity Either DG is mispriced vs SPY or TLT is very cheap
$DG Dollar General - Bearish Rising Wedge on Declining Volume. See chart for two possible near term targets. Note: Informational analysis, not investment advice.
Another trade idea active on DG Entry at $107.20 Target at $112.35 and 2nd target at $127.12 Stop at 102.77 DG bullish run on for months. Tis pullback set it up for a good buy opportunity, get it at a discounted rate. Earnings in December so little time for the run. it has the potential to achieve 6.52R at a target 3 of $136.15 be aware of the resistance at...
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.
DG expected to open at 73.85 for a Retest Gap To learn to trade this strategy for free, go to www.RealLifeTrading.com
Looks good on the hourly. Update from Tuesday's doji chart.
Looks like the makings of a triangle break out. R:R is good. Nice gap.