The dollar stores rebounded significantly from their November through
March Base, but recently have been either stalled or pulling back.
That is now changing. Take a look at Dollar General,
$DG.
After pulling back to the 200 day Simple Moving Average (SMA) to start
June, it has been building an ascending triangle since. Monday it
tried to peek over the top but failed. But it looks to have some
support to get there. The Relative Strength Index (RSI) is trending
higher and the Moving Average Convergence Divergence indicator (MACD) is
also turning up and crossed to positive. The Measured Move on the
break higher takes it to 56.40.
And Dollar Tree,
$DLTR,
is just as good. In fact it is breaking resistance of an ascending
triangle that formed with the 50 day SMA as the base Monday. The
Measured Move takes it higher to 55. The RSI is running higher and
bullish and the MACD is turning up.
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