DLTR Winding up for a big move

Jul 10, 2020

DLTR has set itself up in a wedge formation, which is indicating a potentially big move to either side. With COVID-19 positively impacting the discount stores because of the struggling consumer focusing on essential products, I see this going to the upside. Current price is around $91 and I see this potentially testing the resistance level of $106 in the future if it breaks to the upside. A break to the downside might see some support at $86. This seems like a solid risk/reward play with around 5% on downside and 16% on upside.