Dick's Sporting rallies - Analysis - 23-11-2022

Dick's Sporting Goods's stock (DKS) rose in the intraday levels after declining initially before regaining ground, following the release of its third quarter results, which beat estimates, with the stock spiking 10.12% in the last session, or 10.82 points, and settling at 117.76, with trading volumes surpassing 6.4 million shares, above 10-day averages of 2.7 million shares. 

Technically, the stock managed to shake off negative pressure from the 50-day SMA, amid the dominance of the upward correctional short-term trend, with positive signals from the RSI.

Therefore we expect more gains for the stock, targeting the resistance of 133.27, provided the resistance of 119.80 was reliably breached. 

Expected trend for today: Bullish