Dollar general (Value play) Broke out of a symmetrical triangle last week and Consolidated for a few days. That consolidation has led to a flag forming that I think will push it to 246 fibonacci level
1DGX trade ideas
DG to 240Our trading system generated an entry signal on 6th Dec however with signals generated in our red price bands we wait for more suitable conditions to enter. On 14th Dec our price reversal trigger generated a signal and we entered an OTM long call in line with our strategy. In the 20th Dec, DG hit the bottom of the bullish ichimoku cloud and closed higher the next day – a bullish sign in our books.
On the 22nd Dec we had a price reversal signal to the sell side. We remained in the trade however as the squeeze signal was still valid. We did receive a + signal inside our squeeze which is a confirmed ”ADD” signal. That gives us confidence that the sell off in price could reverse shortly.
On 27th Dec we saw a strong shift in the ADX with the candles going from red to green and the price bands changing from red to green indicating a break out is imminent. On 28th Dec we received a long price reversal signal and on 29th Dec we added a put credit spread to our already placed long call.
The overall position is now a funded trade (where we are using a credit trade to pay for a debit trade) and the combined position is up 283% as at the close of 29 Dec.
We believe that DG will move towards 240 over the next 3 weeks on the back of the following bullish signals:
1) Our squeeze signal has a strong historical performance over the past 2 years
2) The B score is strongly rising with a strong ADX reading
3) Multiple long signals within the squeeze indicating further bullish momentum
Some major lessons here:
1) Trade highly reliable signals – remember not all indicators are equal and based on backtesting you will be able to see which stocks perform well under certain scenarios and with certain indicators.
2) Not all assets work the same on an indicator. As a trading coach I am often faced with clients who trade one simplistic set up with mixed results, blaming themselves for their own performance where the real issue is the fact that the set up is not correct for the stock (for example, trading an 8/13 SMA crossover on all assets when the stock has a weak history of performing under that trigger…)
3) Most indicators are multifaceted and there are a number of complimentary indicators that can enhance your trading of an indicator (we use a number of proprietary tools to further enhance our understanding of the squeeze for example)
4) When trading options make sure you have the correct options strategy when trading the squeeze or any of the supporting squeeze indicators – one size does not fit all.
5) Make use of the Ghost feed tool within Tradingview to establish a performance expectation and check up on your trade daily to ensure your stops are correctly placed.
6) Your tools need to be customized to your trade style. Some indicators work really well on some time frames and not on others. Trial and error can be costly. There are number of really good free tools available on Tradingview which can help you.
Trade safely!
V Bottom 8-26 BMODG is scheduled for earnings next week/8-26 BMO.
Fat rising wedge possibly noted but is not super narrow at apex. This wedge is just a tiny bit narrowing and encompasses the whole trend since the bottom at 173.50. I have noted these fat wedges may or may not fall, as they do not come to a super noticeable narrowing of the trendlines at the apex. They are very wide but slowly, the trendlines do narrow somewhat. Some rising wedges come to a very narrow point at the apex and this type does usually fall, eventually. I am still studying the fat ones that encompass an entire trend. AMZN had one and they are difficult to draw. I do see a rising wedge on hourly that was narrow at the apex, but price has fallen and corrected from that one. Hate to leave anyone hanging, but my research on fat Rising Wedges is in progress (o:
Looks like a bull flag, but poles that steep make me stop and think WOW! Call me crazy because a steep pole is usually considered bullish. Just makes me wonder if there are too many buyers in that pole and buyers can become sellers any day of the week. Maybe this will pull back some more before earnings. I am often over-cautious so ignore me, it is the Capricorn that resides in my blood that makes me that way. LOL. I love this stock and they will get to stay open if the government exerts more lockdowns and mandates in their quest to control the American people.
V bottoms differ from a cup as they do not always have a handle, but they can have one, and the bottom is more V like verses rounded like a cup is. Targets are calculated in the same manner for both patterns. No recommendation
DG Breakout10 Month Long Base
Price above 200 DMA
Decent Volume
Made double bottom in March 21
Pays out dividends
Dollar General Ascending TriangleAscending triangle ready to break out, beginning to ease into a long position next week.
DG: Upward breakout of the long-term resistance level.Long-term resistance level could be broken upwards with the target level in the area of 250.
Two PatternsAscending triangle and Reverse Head and Shoulder on Wk chart. It will be interesting watching this play out.
DG Ascending Triangle Dollar General (DG) has been in an ascending triangle since October and is at its 1st resistance of $221.75 and has a second of $224.42. If DG can break both resistances it could zoom to new ATH. There's also potential with DG and AAPL is they they could pull back again. DG could pull back to its support line of about $202.70. A break out of both AAPL and DG would require the SPY to continue to make new ATH so i would watch out for that.
$DG - Earnings rebound?Dollar General pulled back in a runup to earnings and is now rebounding back. PT is $220 by mid July.
DG price target 225TECHNICAL ANALYSIS
Daily: price in the entry zone per fibo 50% -61.8% rebounding strongly, unable to break the Ichimoku Clouds. We have 3 GAPs at the top that the price should close confirming an upward movement.
Diario: precio en zona de entrada por fibo 50%-61.8% rebotando fuertemente, sin poder romper las Nubes de Ichimoku. Tenemos 3 GAPs en la parte superior que el precio debería cerrar confirmando un movimiento a la alza.
FEAR & GREED INDEX : 36 -Fear,,
“sea temerosos cuando otros son codiciosos, y sólo codicioso cuando otros son temerosos”
“be fearful when others are greedy, and only greedy when others are fearful” - Warren Buffett
PRICE TARGET: $221-225 (tELSEY aDVISOR)
HEDGE FUND TRACK:
Important note: ⚠️ All trades have risks that the investor must consider before investing. VivirdelTrading.club makes a disclaimer of any operation that may generate losses. All information transmitted by the channel, the page and the alert system is shared in good faith. There is no guarantee of 100% of the executed operations, as these are based on statistical models and assumptions regarding the past behavior of the price of a share, but they do not guarantee the same future behavior.
V BottomDG appears to be recovering from a deep pull back.
The green upside down triangles are pocket pivots and can make a decent stop. This indicator is on TradeView.
A pocket pivot is a price/volume pattern. Price forms a pocket pivot, when:
The price goes up compared to yesterdays close.
The volume today is higher than the maximum down volume of the past 10 days.
V bottom targets are calculated by depth like a cup and handle. This pattern's depth is 48.25. I multiply the depth by .38, .62 and .79 to get targets 1, or I use the corresponding fib levels. The results arre added to long entry level which is often placed a tad over the prior high. The prior high is 225.25, so I placed long entry level at 225.35. I am sure some folks do this differently (o:
No recommendation.
JK Livin' on a BudgetWe're about to find out how far $1,400 goes. My sense is rent/bills & shit in general is getting pricey and gov' checks are barely putting a dent into this struggle. We long DG once it finds a dip.
DG: Breakout Confirmed, 9.74% Potential Profit!Description: DG is trending higher and in an uptrend meaning that highs are getting higher and lows are getting higher. The uptrend line on the chart and the Trending Band Indicator (which measures trend) supports the Long Position.
Stats:
1. Ideal buy range: $210.3 - $216.7
2. Take profit: $232.69
3. Stop Loss: $205.68
4. Risk To Reward: 1 / 3
5. Accuracy Rating: 94.47%
$DG with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $DG after a Negative over reaction following its earnings release placing the stock in drift C
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Double BottomPrice is at the neckline. Long entry would be a break of the neckline with an uptrend. I would imagine DG is getting a bit tired and is having issues at the neckline.
I think it will push through but not unusual to take a few tries. Sometimes hard resistance can knock a security back down.
Any pattern can fail and a double bottom can become a triple bottom )o:
You can measure bottoms by drawing a line from the bottom to the neckline. Then extend it up from the neckline using the magnet. This is a ball park guesstimate of where price may go.
As a rule, with a multiple bottom structure, you place a stop under the bottom. This is a tall structure making the stop too far away. I usually use the last pivot low when that happens. For me that is under 192.
Not a recommendation.
Pull back FishingDG had a bad reaction to earnings and fell quite a bit. It has been like a rocket stock since.
The last time DG had a bearish divergence between price and RSI, it fell substantially. DG also had an ugly top then as well. One appears to be trying to form now. Not long enough to say for sure. Divergences do not always affect a security in the short term. It is good to be aware though.
A lot of green. Watching. I bought this on the deep pull back and contemplating selling half. May have be a mistake to sell. I am hoping to catch it again soon if I do. I am thinking someone will take profit soon. But even with all that green, it is not overbought yet.
Decisions such as these can be very difficult.
The monthly and weekly candles looks bullish. NV and OBV are both high.
No recommendation
Dollar General entering buy zoneBased off volume profile, it looks as if DG might be bouncing back pretty soon. After this ER dump, I expect it slowly sell off to around the 165-150 range, where i’ll be buying.
Entered a couple of DG august contracts today, and looking to buy more at anything below 160.
Dollar General entering a buy zoneBased on volume profile, it looks like DG has some more opportunity to run down. I expect it to briefly touch that support line dated back to 2017.
Im looking to buy anything below 265, and will enter a massive position upon touching 255. I entered some late dated contracts for August today.
💡$DG🤑 basic price action on Dollar General?💰+10%🏌️♂️📚DG stock is sitting at some key levels. Should price break the $193 level, it may continue higher to $205 and then $218, based on previous areas of structure (resistance turned support). However, price is still trading well below its 50, 100 and 200 day MA, so watch for the reversal down to $175.
DG Long Term SupportA few days late to see this but in line with my thesis on Consumer Staples being the next sector to perform in the market NYSE:DG hit a long term 50% retracement level support around 175. I would be looking at this to retest the high in terms of price action. Unfortunately even at this level the dividend yield is rather low (0.79%).
