DG: Sell ideaSell idea on DG as you can see on the chart because we have the breakout of the vwap and the support line.
1DGX trade ideas
A nice falling wedge pattern on DG! 🔉Sound on!🔉
Thank you as always for watching my videos. I hope that you learned something very educational! Please feel free to like, share, and comment on this post. Remember only risk what you are willing to lose. Trading is very risky but it can change your life!
DG, Incoming series of Price Growth in order! SEED.MONTHLY DATA:
HISTOGRAM WAVE (top indicator) Down shift (3rd one since inception) finally re-appeared after waiting eons. Buyers are now positioning at the current discounted price range. Last time a wave down shift appeared was 6 years ago on June 2017! This is a huge hint already to SEED on this stock.
Price perfectly bounce on a 1.0 FIB LEVEL touch on monthly data. Support is solid at the current price range.
Net positive Volume last few days keeps ascending surpassing average numbers. As of this writing volume has surged 10%
Expected Earnings result will come on August 31 and it's expected to beat previous Q1 numbers by a significant %.
TAYOR
Spotted at 167.0
Safeguard capital always.
Dollar General (DG) | Short-term OpportunityHi,
A leading American discount retailer, Dollar General operates over 19,000 stores in 47 states, selling branded and private-label products across a wide variety of categories.
In fiscal 2022, 80% of net sales came from consumables (including paper and cleaning products, packaged and perishable food, tobacco, and health and beauty items), 11% from seasonal merchandise (such as toys, greeting cards, decorations, and gardening supplies), 6% from home products (for example, kitchen supplies, small appliances, and cookware), and 3% from apparel.
Stores average roughly 7,500 square feet, and about 75% of Dollar General locations are in towns of 20,000 or fewer people.
The firm emphasizes value, with most of its items sold at everyday low prices of $5 or less.
Technically speaking it has reached inside an interesting area. A few criteria matching with each other and probably it is worth to take a shot, from the shown box - $90 to $119, should be technically okay.
Criteria are simple:
1. The long trendline
2. All-time Fibo level 62%
3. The round number, psychological number, $100
Target around $140 - $150
Good luck,
Vaido
Downside in Dollar General?Dollar General fell sharply in 2023. Now, after a period of consolidation, some traders may see further downside.
The first pattern on today’s chart is the large bearish engulfing candle on March 14, which occurred despite results beating estimates. The discount retailer stalled below that session’s high in April. This month, it stalled near the low. Has old support below new resistance?
Second, the 200-day simple moving average (SMA) potentially marks a long-term downtrend by steadily falling across the chart. Prices are also stalling below the 50-day SMA and are back under the 21-day exponential moving average (EMA). That may reflect weakness over the long, intermediate and short terms.
Third, stochastics are dipping from near an overbought condition.
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DG long positionhi traders,
Let's take a look at DG on 15 minutes time frame.
It looks like the price has confirmed the support around 148 $. The downsloping resistance line has been broken and the price may increase again.
Bullish engulfing candle also looks promising for bulls.
We expect the price increase .
Stop loss can be placed below 148 $.
Target 1: 155,15
target 2: 161,48
Dollar General Jan 28 2024 BUY SIDELooking at the chart best place to get in would be around $125.00 but it too late Current prce is $133. Gap fill is over $150.00 But I have a target of $146 for target 1 on a daily chart. There will be other targets on lower timeframes, but $146 is my target 1. YOU could try and start a postion at $133 and if it comes back to $125 buy the other half for target to $146 then $152 then see what happens there
$DG is in a bullish trendAfter hitting bottom at 101.09, it goes up to 61.8 fib lvl and rejects which is normal as the 61.8 fib lvl holds good.
It finds support at 38.2 fib lvl. 38.2 fib lvl also holds good and we can see that it goes above 61.8 fib lvl after rebounding from 38.2 fib lvl. Same 61.8 fib lvl which was resistance before.
After crossing 61.8, it's retesting support lvl at 130.83 which was resistance previously.
I will target the next lvl at 78.6 ($145.82) with the trade play below......
Feb 16 150c for 1.56 or
for lower cost, you can also play
Feb 16 160c for .60
Size appropriately as the overall market can bring the stock down still.
DG Descending channel breakout continuationDG (DOLLAR GENERAL) PRICE RECAP:
DG has been on a selling spree since reaching its all time highs at 262.21. Along the way down, DG’s price began to trade into a channel where it finally broken out of following a bounce from the major support at 102.07 - 106.00. This area hadn’t been reached since December 2018, completing a 61.8% price retracement.
Additionally, there were 2 large GAPS created on the way down at 179.15 - 200.67 and 139.44 - 154.58.
After breaking out of the descending channel on the daily timeframe, price made a move towards the first GAP but rejected right at the GAP’s low. This rejection caused price to make a push down towards the previous intermediate support level. Price broke below this support then bounced off of the new uptrend support to reclaim the level and is now retesting this support again.
I am now watching for DG to continue its move upward to retry filling the GAP above at 139.44 - 154.58.
NOTE: The highs of this GAP is also a previous major support/resistance level. Also notice how the Jeanius Indicator gave buy confluence signals at the major support bounce area as well as the first swing low in the new uptrend where price seemed to have consolidated.
TRADE IDEA:
I plan to swing calls from here with a tight stop below the previous swing low, first targeting the low of the GAP above then ultimately the high of the GAP. In conjunction with the major downtrend resistance area.
ADDITIONAL CONFLUENCES:
- 61.8 % fib retraced
- Bullish Engulfing at fib bounce level
- Rising Volume
- Monthly Pivot
- Stock curling up reclaiming halfway
- MACD showing sell weakness
- RSI oversold bounce
- Bolli Band reclaim
- VRVP (Visible Range Volume Profile) bounce from POC (point control) … Displaying next available POC at 164.58.
- Bouncing from CHOCH (Change of character point)
📈 #DG Looking to make a trend continuation!
Hey guys, NYSE:DG has the following technical analysis indicators for more bullish upside.
1. Nice clean larger degree impulse
2. Longer in duration correction than the impulse going sideways
3. Lower degree impulse breaking out of larger degree trend line
4. Trend continuation Expanding flat structure breaking out for trend continuation confirmation
I am looking to take profits at 2 different fib extension levels.
Dollar General $DG - Cash Secured Put Trade IdeaOn Wed Nov 22 2023 I entered a cash secured put trade on NYSE:DG
I did this for several reasons:
Price closed above the 50MA on daily candles.
Price broke out of the horizontal support.
Price closed above a medium/long term diaginal support.
Moving averages are crossing over and sloping upwards.
Price is oversold as the stock has fallen by approximately -62% from its October 2022 high.
The stock volatility was at 94% giving th edge to option sellers, yet we are still 15 days away from NYSE:DG earnings.
Earnings are another example why I think the price of my put will expire OTM and I will get to keep this inflated premium. You see the bar for NYSE:DG earnings as set by the analysts is pretty low, with the estimates of EPS: $1.197 and Revenue: $9.648B, both I believe could be low targets for NYSE:DG based on their historic and last quarter results.
There is also an unfilled bullish gap from a technical perspective above the current price at around the $138.44-$157.60 level.
I sold a DEC 15 $115 PUT for a premium of $2.95 per contract. My thoughts are that the contracts will expire worthless and that I will be able to keep the premium. If the volatility drops from the current levels I will realize my profits faster. Depending on how much profit gets captured from the option I might exit early before earnings and lock in profits without increasing my risk due to the upcoming earnings, as we know during earnings its a coin toss and anything can happen.
This is my first post idea on TradingView, hope this was helpful for the readers. If so, follow me for more ideas on stock and option trading.
Enjoy the weekend and good luck next week!
DG can be good opportunity in the future!1) RSI indicator dropped approximately 25 level and it gives us oversold sign but it is not so reliable indicator if it is strong upper or down trend. But its 2 moving averages will cross each other nearly. For very reliable buy sign we have to wait those moving averages.
2) Momentum's resistance line has been broken but this can be unreliable resistance line because of slope of line. On the other hand, i applied SMA(8 period) on momentum and they crossed each other. It is buy sign.
3) I applied WMA(14 period) on CCI indicator and they have crossed each other and it is buy sign but we have to wait at the end of this month.
4) On DMI indicator ADX(Red line) and -DI(Orange line) are closing each other.
5) MACD has red light bar. Down trend is losing its power. It can be reversal of trend.
Downside in Dollar General?Discount retailers like Dollar General have struggled all year. Now, after a drop and rebound, sellers may return to the name.
The first pattern on today’s chart is the series of lower highs since May, which have produced a falling trendline. DG is now back at this line. Will the downtrend reassert itself?
Prices are also near the 50-day simple moving average.
Third, stochastics are dipping from an overbought condition.
Finally, consider the high-volume sessions on June 1, August 31 and October 13. The first two were bearish gaps after results and guidance missed estimates. The second was a countertrend bounce after Todd Vasos returned as CEO. While he may engineer a turnaround over the longer-term, the weak fundamentals and bearish momentum could remain dominant into yearend.
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DG Daily Levels Match Up Almost Perfectly with Fibonacci LevelsDG
Replay of DG's Price Movement & Volume -13 October 2023
Dollar General (DG) gapped up and was up 9.16% on the day. DG's volume was nearly 3 x's the amount it was over the last 2.5 weeks.
Daily Levels & Fibonacci Levels
*The .38 retracement level on the daily is in confluence with the 116 daily level on the chart. The .50 fibonacci retracement level aligns with the 120 daily level. Also, the .618 (the reversal fib retracement level), is in confluence with the 124.85 daily level. I like when I see levels line up nearly perfectly with fib retracement levels 😃
DG in freefall despite growing fundamentalsA recession play I am heavily eyeing, the orange horizontal is an absolute buy for me based on prior resistance/support and fundamental valuations. Even the most conservative label DG fair valued here, most calculations put it at a 35+% discount. DG tends to perform best in recessions, but fall leading into them. With their new smaller layout store action plan will the stock perform over the coming years?
DG Entering a Bullish Divergence, long term increase possibleWith MACD and RSI Pointing obvious bullish indicators, if price holds and doesnt trigger a stop loss situation, the uptrend will be dramatically considered. The week charts indicate a nice setup as well, don't rely on the price to go very high in the near term, but wait for weekly confirmation to go all in on investment.
