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Downgrade Alert for Dollar Tree (DLTR)

By James Quinn

Dollar Tree (NASDAQ:DLTR) was downgraded from Neutral to Underweight at Atlantic Equities today. The stock closed yesterday at $80.46 on volume of 2.9 million shares, above average daily volume of 1.7 million.

Dollar Tree (NASDAQ:DLTR) has potential upside of 1.4% based on a current price of $80.46 and analysts' consensus price target of $81.56. Dollar Tree shares should encounter resistance at the 50-day moving average (MA) of $80.51 and support at its 200-day MA of $74.94.

In the past 52 weeks, shares of Dollar Tree have traded between a low of $60.31 and a high of $99.93 and closed yesterday at $80.46, which is 33% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Dollar Tree, Inc. operates a discount variety store chain. The Company sells an assortment of everyday general merchandise. Dollar Tree sells its merchandise at the $1.00 price point. The Company operates throughout the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Dollar Tree on August 25th, 2016 by issuing a Downtrend alert when the shares were trading at $87.48. Since that call, shares of Dollar Tree have fallen 8.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades Dollar Tree

Ticker(s): DLTR