Dollar General breaches upward trend line - Analysis - 02-12-2022

Economies.com
1 month ago

Dollar General's stock (DG) skidded in the intraday levels after missing third quarter profits forecasts, with the company also expecting to miss four-quarter targets due to higher costs, with the stock sliding 7.56% in the last session, or 19.34 points, settling at 236.34, with trading volumes surpassing 8.2 million shares, above 10-day averages of 2.1 million shares. 

 

Technically, the stock pierced the main upward trend line in the short term, while surpassing the support of the 50-day SMA, exposing it to negative pressure, with negative signals from the RSI.

 

Therefore we expect more losses for the stock, targeting the support 234.00 and subsequent supports. 

 

Expected trend for today: Bearish 

American Stocks Analysis