$DPZ Dominos Overstuffed Crust - Short$DPZ Dominos has been testing the upper limits of the current ascending channel for a few days now. It's finally looking over-extended, overbought, and primed for reversal.
Notice the final push for another new ATH today with a bearish divergence in volume, RSI, and MFI. Definite rising wedge pattern into the upper channel limit (shooting star doji on the daily chart). Once the price breaks through the lower wedge line, I'm expecting a correction to at least the area of the 50d ema or ~$264. If the 50d doesn't hold as support I'm expecting sub-$260 by July.
On a fundamental note: Dominos just lost their CFO yesterday...never a good sign.
This analysis is an opinion and does not constitute investment advice.
Dominos
$DPZ getting there again$DPZ getting there again hitting the uptrend resis line. RSI overbought waiting to turn . Time to take a short coming
Domino's Pizza (DPZ) Buying Opportunity-On April 28, 2016 Company had disappointing earnings.
Estimate: 0.97
Earnings: 0.89
Total Decrease -0.08 (-8.25%)
-Stock recovered nicely with the RSI indicator following the stocks trend
-April 27, 2017 is the next earnings report for DPZ
Estimate: 1.16
Earnings: ???
The stock is starting to sell off with rumours of lower than projected earnings. I'm projecting the stock to continue to sell off to continue to around the $164-$160 level.
-Great opportunity to buy at a discounted price after earnings are reported.
Domino's entering the support area - Time to buy!After continuous downtrend, Domino's is now entering price price range where it found support in the past.
Buy Dominos Pizza :)Lately I've been having fun practicing on literally any chart I come across so I decided to do some analysis on DPZ.
Price is in an accumulation phase in accordance with the Dow Theory. If price continues to behave like this, then a move up is very likely. So I suggest buying some pizza :)
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