Dollar General Corporation, a discount retailer, engages in the
provision of various merchandise products in the United States. The
company offers various consumable products, including paper and cleaning
products, such as paper towels, bath tissue, paper dinnerware, trash
and storage bags, laundry, and other home cleaning supplies; packaged
food, comprising cereals, canned soups and vegetables, condiments,
spices, sugar, and flour; perishables consisting of milk, eggs, bread,
frozen meals, beer, and wine; snacks that include candies, cookies,
crackers, salty snacks, and carbonated beverages. It also provides
seasonal products, including decorations, toys, batteries, small
electronics, greeting cards, stationery, prepaid phones and accessories,
gardening supplies, hardware, automotive, and home office supplies; and
home products comprising kitchen supplies, cookware, small appliances,
light bulbs, storage containers, frames, candles, craft supplies and
kitchen, bed, and bath soft goods. In addition, the company offers
casual everyday apparel for infants, toddlers, girls, boys, women, and
men, as well as socks, underwear, disposable diapers, shoes, and
accessories.
To review Dollar's stock, please take a look at the 1-year chart of
DG (Dollar General Corporation) below with my added notations:
While consolidating in July and August, DG formed a solid resistance
at $56 (red). That previous resistance was a 52-week high breakout when
the stock broke up through it in the beginning of September and now it
should act as support if the stock were to pull back down to it. In
addition, the stock has been climbing a long trendline of support (blue)
since February. If DG were to fall below $56, that trendline should be
the next major level of support.
The Tale of the Tape: DG has a potential $56 level
of support and uptrend line to watch. A long trade could be made on a
pullback down to $56. A break below that level would bring the up
trending support into focus for the next long trade.
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