Dollar Tree is looking primed and ready to rise. As you can see in the stock chart below, it’s currently sitting near old highs – even with the dreadful action we experienced on Monday. The stock has historically been an exceptional performer when markets are weak, so while others were being hammered lower, Dollar Tree enjoyed a strong day on higher volume, finishing near the highs of the session. Markets were down more than 1%, but Nasdaq: DLTR bucked the trend and closed higher by 2%.
Since mid-November, the stock’s momentum indicators have been overbought, a good sign for continuation. You can see a nice flag pattern has been established, and once it’s confirmed, we could see this stock move back to old highs.
Dollar Tree (Nasdaq: DLTR) Video Chart Analysis
Take a deeper dive into the chart action on Nasdaq: DLTR and learn how to read the technicals and analysis as Bob Lang marks up our chart of the week.
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About Dollar Tree
Dollar Tree, Inc. operates discount variety stores in the United States and Canada. Its stores offer merchandise at the fixed price of $1.00. The companys stores provide consumable merchandise, which includes candy and food, and health and beauty care products; and everyday consumables, such as paper and chemicals, and frozen and refrigerated food. Its stores also offer various merchandise that include toys, durable housewares, gifts, party goods, greeting cards, softlines, and other items; and seasonal goods consisting of Valentine’s Day, Easter, Halloween, and Christmas merchandise. The company operates its stores under the names of Dollar Tree, Deal$, Dollar Tree Deal$, Dollar Tree Canada, Dollar Giant, and Dollar Bills. It operates approximately 5,080 stores. The company was founded in 1986 and is based in Chesapeake, Virginia.
