1DKS trade ideas
Dick's Sporting Goods (DKS): looking solid before the earningsDick’s is the largest full-line sporting goods retailer with a national store base and a high-quality, growing e-commerce business. Dick’s controls approximately 12% of the sporting goods industry.
Dick’s has fared better than competitors due to its execution and company-specific initiatives, including Dick’s Team Sports HQ, a technology platform for youth sports leagues, private brands (12% of sales) including Calia and Reebok, and strong partnerships with vendors, which prefer to work with national retailers like Dick’s.
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BUY! BULLISH INDICATORSDick's popped up on a few scans today.
BULLISH INDICATORS
Weekly Chart Accumulation, On Balance Volume, Stochastics, MACD and RSI are BULLISH
On the Monthly, Stochastics, MACD and RSI are trending up BULLISH
DAILY CHART LOOKS BULLISH
LOOKING FOR A NEW 52-WEEK HIGH
POSITION: 10,000 SHARES
PRICE: $35.88
DKS may be under resistance pressure to the lowerDKS is under pressure with more stores opening and severely lower revenues from sales. Stores are opening in markets that are depressed. This will cause a significant run at the cash on hand and could cause a failure.
I shorted in March to May and now April to June.
10 contracts to the lower in anticipation of week financials for q-1.
I am short at 10 calls at 23.00 with a bollinger lower level 18.00.
Resistance is at 200DMA on the monthly. Looking lower to me.
DKS in EquilibriumAwesome opportunity to go long here if DKS pulls back to the LTF Demand Zone. Yellow line indicates where price fell from after poor Q3 '17 earnings (no real supply here). If price breaks the line, I believe it will continue right on up to the LTF Supply Zone, making for another great opportunity to join this strong up- trend.
Buy DKSOversold!
Biggest sport reatiler in US, with more store openings ahead
Will keep growing no matter what Amazon (AMZN) do
Nice valuation (9,2 x 2018 earnings), for a mid single digit growth company. (Could be upper single digit without AMZN pressure)
Sport industry: A great place to be
PLUS:
Like WFM, could also be an interesting target for Amazon.
Distribution centers for Amazon. AMZN Acquires DKS, a 10x earnings company, when trading at 80x fwd earnings. Great deal!
Will Dicks Sporting Goods (DKS) Rebound At Least 7%Dicks Sporting Goods has been on a bull run since November 2008. On multiple occasions through this bull, three of the technical indicators discussed below are at the same or lower levels, that they are now. These instances are resulted in gains for the stock. I have laid out the reasons and levels to which the stock may rise while it most likely ends is recent bear trend and restarts it bull.
When we look at technical indicators, the relative strength index (RSI) is at 23.2053. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. Currently the RSI has the stock oversold.
The positive vortex indicator (VI) is at 0.7757 and the negative is at 1.1798. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The positive and negative values are currently at extreme levels and the stock always rebounds.
The stochastic oscillator K value is 9.0137 and D value is 10.7460. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. The stochastic is currently oversold. The K value will soon cross above the D value. When this occurs the stock should begin to move higher.
Since the current long-term bull began, there have been four occasions when the RSI was at or below its current close at the same time the negative VI was at its current height and the stochastic was oversold. All similar instance led to a significant gain for the stock. The median gain occurs over 12 trading days with a median rise of 12.34%. The minimum gain on these occasions was 8.51%.
Furthermore, 17 occasions in the current long-term bull had the stock bounce off clearly identified support levels. I define a support level as one the stock uses as a bottom on a minimum of three occasions. The median gains from these bounces off support have resulted over 16 trading days with a median move of 15.69%. The minimum gain from these levels is 8.51% This 8.51% also occurred when the RSI and positive VI value were at or below their current levels. A gain of 8.51% is probable in this instance as it encompasses a bounce off strong support and has the RSI and VI at extreme levels.
Considering the RSI, VI and stochastic levels, the overall direction favors a move to the upside. Based on historical movement compared to current levels and the current position, the stock could gain at least 7% over the next 27 trading days if not sooner.
Go longHey guys, these are my thoughts on DKS:
So as you can see there is a long support line and the stock bounced at it today. Both in march and april of 2016, this support acted as a nice resistance line and then a few months later , the stock broke out of that resistance for a huge run. Early in 2017, the stock came back at that support and bounced for a nice gain, then the stock broke out on the downside and not too long after, it broke out again and now retest at that support line and this is where we are today. There is a nice flag pattern and the volume is high so there is interest for a possible move on the upside for the upcoming month. If the stock broke out of that strong MA 50 resistance then i will buy the stock. If the stock cant pass over that MA50, then the stock is not strong enough. So the fact that the stock bounced of a huge support line, the fact that there is a nice flag pattern formation and the fact that the sock finished very strong today with good volume are some reasons why i think the stock will go for a nice run but only if the stock can break the MA 50 tomorow morning.
Expecting A Bounce In Dicks $DKSShares of Dicks Sporting Goods Inc (NYSE:DKS) are holding major support at the $48.00 level. Retailers have been beaten down and are oversold. There will likely be a technical bounce in many retailers. Dicks Sporting Goods will see a sharp bounce back to $52.25. I am looking to buy some shares here.
OPENING: DKS MARCH 17TH 43/50/50/57.5 IRON FLY... for a 4.35 ($435)/contract credit. I put this on earlier in the week, but neglected to post it here ... . (High implied volatility rank; high implied volatility; it's in the 95th percentile of where implied volatility has been in the past six months; its background implied volatility is at 47%).
Metrics (Currently):
Max Profit: $418/contract
Max Loss/Buying Power Effect: $332/contract
Break Evens: 45.82/54.18
Theta: 5.66/contract
Delta: 1.33/contract
Notes: DKS earnings are currently scheduled for March 14th. The notion here was to play the underlying for sideways chop leading up to earnings, but take it off shortly before. We'll see how that works out .... . If I get an opportunity to close it out in profit before earnings, I may play it again for the earnings announcement ... .
DKS - call buyers mark downtrend breakoutDicks was upgraded by Goldman to Buy on Jan 30th. Feb 9th saw heavy call activity in March 55 and 60 strikes with March 52.5 puts being sold. Daily chart shows $49.33 touched in July and confirmed as support again on Jan 31st. Target the 50dma at say $55 to add to position.
