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Technical Analysis: Discount Retailer Holds Gains as the Broader Market Tanks

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The broader market has been super volatile lately, which makes the tranquil behavior of one retailer interesting: Dollar Tree.

Notice how the discounter plunged on May 18 after Target’s (TGT) poor quarterly results. Also notice how quickly it rebounded after its own quarterly numbers handily beat estimates on May 26. The stock has barely moved since then — despite the S&P 500 diving to a new 18-month low. That kind of tight price action may …

For more, please click here to view the related idea and chart analysis on TradingView.

Dollar Tree (DLTR), daily chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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