The Hourly View for DG
Currently, DG’s price is up $0.5 (0.28%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
DG’s Technical Outlook on the Daily Chart
Currently, DG’s price is down $-1.72 (-0.94%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as DG has now gone down 8 of the past 10 days. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. Of note is that the 200 day changed directions on DG; it is now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows DG’s price action over the past 90 days.
For DG News Traders
News traders keeping an eye on DG may find value in this recent story:
Semper Augustus Investments Group, an investment management firm, published its fourth-quarter 2020 Investor Letter – a copy of which can be downloaded here. In the lengthy letter, the fund talked about the activities in their portfolio and other important updates which they quoted, “The Path From Deflation; Expedition Everest; and – Berkshire: The GOAT Goes Full […]
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The post Dollar General Corp (DG): Price Now Near $181.12; Daily Chart Shows Downtrend on 100 Day Basis appeared first on ETF Daily News.
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