DLTR trade ideas
DLTR Gap and GoThis is a stock on fire after earnings up 9% and gapped out of range, this offers a great entry either now or better to wait and buy if retrace or breaks todays high. The options for Jan 17 are 8.40 today if willing to take say 25-30 % risk you want to get 60% gain at least. Potential here as the volume is very good as well great same store sales and earnings beat
Bearish Continuation wedgeAlthough bearish reversal wedge forms between 3-6 months if we add the consolidation period after bottom face was completed, we are there but take your time to do some extra homework before you take a bearish bet here but it looks a promising one if price again fails to hold today's low which had a significant importance for many traders at and around $77.3. If u decide to take a short bet make your stop loss at recent swing high at and around $78.88. Try to visit us www.2waytrading.com for real-time alerts
DLTR gaps up on higher volumeOn yesterdays earnings announcement price gapped up on DLTR (with higher volume). This offers a good near-term opportunity to buy this stock for a quick profit. Ideally, it would've been nice to have seen a more bullish bar.
For longer-term opportunities this stock has trended well in the past, but since June 2012 the trend has not been able to re-established itself. In late October 2014 the most recent upward wave began and, after breaking the October 2013 pivot high at around $60, it has shown more strength.
With two gaps up on higher volume and a retest of the October 2013 pivot this could well turn into a good longer-term opportunity, again.
DLTR GREAT BUY OR ???Dollar Tree has had an enormous run and the 100 day EMA has been a great support for this run. This is the first time it dipped below the 100 day and it has been below for about a week now.
The dashed lines are notable price points where funny things may happen.
I would expect it to go sidewaysish (It's in Websters) to allow for the EMA's to converge.
If you are bullish then right now is a great buy, but I would wait for confirmation first.
I will keep watching and add comments as it becomes more clear on the direction it may go.
Any other thoughts are welcomed.
