September 4 Chart of the Day - Dollar Tree
Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews
Before the market opened Wednesday morning, discount retailer Dollar Tree (DLTR) published results for its fiscal second quarter that missed terribly and they also issued revised downward guidance for the future...
Needless to say their stock price is getting hammered today, down about 25% so we wanted to review their chart from a price action technical analysis perspective.
We have featured over 250 Charts of the Day since May 2023 and teach Price Action Trading for FREE to traders who join our Highly Rated Trade Room.
Monthly Chart
On the monthly chart we can see that after setting its $177.19 all time high (ATH) back in 2022 price has now fallen dramatically down under $65 today and seemingly is in search of a bottom.
Many potential support areas were slashed through as recently as today.
Weekly Chart
On the weekly chart we can see with much more clarity the fall from ATHs and the downward free fall.
Trading around $62 earlier today price is quickly approaching what may be the "last chance" for the bulls to step in.
Only time will tell for sure what price will do next...
We've layered in traditional and advanced Fibonacci levels, support/resistance and trend to help identify potential price levels of interest and/or future price targets.
Armed with precision oriented charts like these both traders and investors can formulate their respective plans.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones,
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
Live Bootcamp Sessions Begin Wednesday the 11th
Hi Laura,
Any standard browser can zoom in as far as you’d like to view any chart.
We’re happy to share any chart though…
Check your email for full size charts.
Thanks.
What good does your marketing do when you cannot access the charts to make them larger to the eye unless this is done for your purposes and not the customers?