Dollar Stores are Rising With the Dollar
- Posted by Greg Harmon
- on July 1st, 2013
The dollar stores rebounded significantly from their November through March Base, but recently have been either stalled or pulling back. That is now changing. Take a look at Dollar General, $DG. After pulling back to the 200 day Simple Moving Average (SMA) to start June, it has been building an ascending triangle since. Monday it tried to peek over the top but failed. But it looks to have some support to get there. The Relative Strength Index (RSI) is trending higher and the Moving Average Convergence Divergence indicator (MACD) is also turning up and crossed to positive. The Measured Move on the break higher takes it to 56.40.
And Dollar Tree, $DLTR, is just as good. In fact it is breaking resistance of an ascending triangle that formed with the 50 day SMA as the base Monday. The Measured Move takes it higher to 55. The RSI is running higher and bullish and the MACD is turning up.
Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through June 2013 Expiry and sign up here.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Keep It Simple: Ford Stock Is Rising So Buy It
- Premium Earnings 8-28-14
- The Relative Weakness in Gold Aint Over Yet
- Eyeing a Meal and a Trade in Buffalo Wild Wings
- Premium Earnings 8-27-14
- Re-Emergence of the Emerging Market ETF
- Turning Goldman Sachs into Gold in Sacks
- Premium Earnings 8-26-14
- S&P 2000, DAX 10,000, Dow 17000 and Andre 3000
- The Longer Term View on Johnson & Johnson