Dollar Tree Bulls in Charge
Published on Thursday, 07 June 2012 12:34 Written by TradersHuddle Wire
New York, June 7th (TradersHuddle.com) - Shares of Dollar Tree, Inc. (NASDAQ:DLTR) booked a new 52 week high today by trading above $105.01, traders are definitely monitoring Dollar Tree's price action to see if this move attracts further buying into the stock.
Dollar Tree, Inc. (NASDAQ:DLTR) operates a discount variety single-price-point retail chain. The Company sells an assortment of everyday general merchandise at the $1.00 price point. The Company operates throughout the United States.
Dollar Tree is currently trading 0.04% versus its previous trading session close, and it has calculated support and resistance at $92.70 and $103.55 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.
The overall market index S&P 500 is trading higher by 0.5% from its previous trading close, which means that Dollar Tree stock is underperforming the overall market.
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