DMP price slowing into potential stacked supply zones, technicals enticing crowds on board. big player profits have been underway for weeks, is Seller strength beginning to enter w1 mn close bars will help for more analysis.
DMP trade ideas
Pizza anyone?! long set up - long term playClear PA and chart structure pointing a buy signal - top down analysis yearly chart shows prior bar inside bullish pinbar - monthly and weekly showing clear candle formations, if price wanted to breach lower it already would've. Risk off phase, my unconventional meaning not market lingo. atm stalling price low at retest levels while LTFs showing buying strengthening. big boys active here, buyers visible - pure technical analysis never read anything about company, PRICE IS EVERYTHING!
stoploss quiet wide as for potential spike could hunt stops below, if they probe below, would only be short lived but also paint a clearer picture on LTFs what there intention will be
Is Domino's days numbered as a growth stock. Growth investors have stepped in over the last 2 years every time Domino's has disappointing at report time or had negative news regarding their buyback. I think we are going to find out very soon if growth investors patience has run to thin. from a technical point of view DMP looks a high probabilty of breaking to the downside. Furthermore, its hard to see a clear level from a technical point of view where support may come in. Perhaps around $33.
ASX:DMP Long Idea - Gap to be filledMy idea is long and beyond the recent high. A gap has been created in the 4 hour time frame, which should be filled? they usually do with stocks, I don't know why, they just do. Stochastic and Fibonacci are showing good signs for a long trade.
DMP long set uplooking for bullish price action at retest of demand zone. $40 level is good reaction price structure shows potential.
Dominos Pizza
Via volume price analysis, there is heavy volume supporting the level of confluence together with candlestick showing a rejection of that level.
DMP- Domino's Pizza Enterprises Limited short-term tradeASX:DMP
The price bounced from support level.
RSI confirm upward movement from oversold territory.
MACD histogram supports an upward movement.
Profit target $ 44.69 and $49.50
