DLTR closes above its opening price after recovering from early selling pressure
Dollar Tree (DLTR) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
DLTR finished Monday at 97.55 gaining $0.42 (0.43%) on low volume. Trading up to $1.13 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (DLTR as at Apr 16, 2018):
Monday's trading range was $1.57 (1.61%), that's below last trading month's daily average range of $2.06. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.
After moving lower in the prior session, the stock managed to close higher but below the previous day's open, forming a bullish Harami Candle.
The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Buying could accelerate should prices move above the close-by swing high at 99.53 where further buy stops might get activated.