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Possible Bullish Inside Day Candle Pattern Detected for Dollar Tree Inc (NASDAQ:DLTR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dollar Tree Inc (NASDAQ:DLTR) based on the price action in the company's shares. Yesterday's price range of $97.54 and $98.46 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Dollar Tree Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Dollar Tree Inc have traded between a low of $78.78 and a high of $111.61 and closed yesterday at $98.46, which is 25% above that low price. The 200-day and 50-day moving averages have moved 0.22% higher and 0.32% lower over the past week, respectively.

Dollar Tree Inc (NASDAQ:DLTR) has potential upside of 13.1% based on a current price of $98.46 and analysts' consensus price target of $111.33. The stock should hit resistance at its 50-day moving average (MA) of $104.35, as well as support at its 200-day MA of $93.30.

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

SmarTrend is tracking the current trend status for Dollar Tree Inc and will alert subscribers who have DLTR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle dollar tree inc

Ticker(s): DLTR