Stock Analysis: – Dollar General Corporation (DG) – 154
Trade Details: Stock was trading into a uptrend and recently crosses over its EMA support levels and price is taking support at its EMA and preparing for the next bounce towards higher levels. There is also a formation of technical bullish setup which increases the chance of upside potential and leads to further increase in price of DG stock.
RSI is trading near 50 around flat zone and this stock will bounce again as RSI will start shifting towards the higher levels of 70-80. Once it sustain above its EMA levels there will be a confirmation for the higher levels.
The above charts is a Daily time frame chart of Dollar General Corporation.
Trade SL and Target –
ENTRY = 154
STOP = 152.25
TARGET = 165 / 712
Please Note: If you are able to take risk then you can hold this trade till 150 levels and accumulate little more. Must Exit below its EMA levels.
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