Shopping at Dillard’s

• Posted by Greg Harmon
• on April 28th, 2014

On retail name does not seem to be worried about the weather in the first quarter. Dillard’s, $DDS, is actually breaking to new all-time highs and still looks strong. Take a look at the chart.

Since making a bottom on February 24th the price action has moved very technically. The Spinning Top doji was confirmed higher by a near Marubozu candle to a higher high at 93. From there it pulled back to a low at 88 where it printed another Spinning Top candle. That was confirmed higher, making a higher low, and it ran up to the previous resistance zone and printed yet another Spinning Top doji. A higher high. This one was confirmed lower and fell back to the basing at a higher low at 90 before the latest move higher. It measured a $6 move up and consolidated for a few days until the break of the flag higher Friday and then prior resistance today. If the pure technical mojo continues then look for a move to 10 on this leg up.

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