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Today, we’re opening a new bullish trade on Dollar Tree (NASDAQ:DLTR). After a strong support bounce off of $83 last Friday — a price level that served as resistance for the stock last April and May — DLTR has gone on to complete a solid bullish “flag” continuation pattern with another positive move on Monday.
DLTR has shown that it has been quite resilient to the negative price-war onslaught brought on by Amazon’s (NASDAQ:AMZN) entrance into and continued dominance of many retail industries. DLTR even went so far as to raise its comparable same-store sales guidance after beating both revenue and earnings estimates at its latest earnings announcement in late-August.
We expect the stock to continue climbing to resistance at $90, which was established in late November of 2016.
‘Buy to open’ the DLTR November 90 Calls (DLTR171117C00090000) for a maximum price of $1.10.
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InvestorPlace advisers John Jagerson and S. Wade Hansen, both Chartered 蜜桃传媒 Technician (CMT) designees, are co-founders of Learning蜜桃传媒s.com, as well as the co-editors of , a trading service designed to help you make options profits by trading the news. Get in on the next SlingShot Trader trade and get 1 free month today by .
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