Technical Analysis: Discount Retailer Holds Gains as the Broader Market Tanks

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The broader market has been super volatile lately, which makes the tranquil behavior of one retailer interesting: Dollar Tree.

Notice how the discounter plunged on May 18 after Target’s (TGT) poor quarterly results. Also notice how quickly it rebounded after its own quarterly numbers handily beat estimates on May 26. The stock has barely moved since then — despite the S&P 500 diving to a new 18-month low. That kind of tight price action may …

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Dollar Tree (DLTR), daily chart with selected patterns and indicators, courtesy of TradingView.
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