- DLTR’s share price is currently trading at $107.47.
- A Dollar Tree insider has recently sold shares worth $134,745.
Dollar Tree Inc. (NASDAQ: DLTR) was founded by J. Douglas Perry and Macon F. Brock Jr. in 1953. It is a chain of discount variety stores, which offers merchandise at a fixed rate. It operates through Dollar Tree and Family Dollar Segments.
$134,754 Worth of Shares Sold By a Dollar Tree Insider
11 October 2023, the Form 4 SEC filing reported that Robert Aflatooni Chief Information Officer sold 1,259 shares of Dollar Tree. The shares he sold were worth around $134,754. According to Form 4 SEC, he has control over a total of 7,157 shares of the company.
Dollar Tree (DLTR) Stock Analysis
The DLTR stock’s current market share price became $107.47 when it gained 0.41% in its last intraday session. It is a large-cap company with a market capitalization worth 23.644 Billion USD. Its average 10-day trading volume is 1.49 Million.
1-Day Chart Analysis of DLTR Stock
The DLTR stock has recently taken support from the $103.62 level after a sharp fall in its price. The price has been declined by more than 20% in 21 trading sessions. Currently, it is in the recovery phase and has recovered 3.97% in of fall in in last 7 trading sessions.
The price is trading below the 50 and 200 EMA lines, which shows the sellers still have control over the price. It is currently rising toward the 50-day EMA line to retest it.
The relative strength index has recently come out from the over-sold territory and is currently rising in the upward direction. It is currently in the bearish territory but the buyers are still influencing the price.
In the current scenario, the price is rising after taking support from the $103.62 and is approaching the 50-day EMA. If the price faces rejection from the 50-day EMA and gives the breakdown of $103.62 support while falling. It may continue its downtrend to fill the gap zone that has not been filled yet. It could also fall to its next support at $84.40, which is just below the gap zone.
In the 1-day chart, there are currently two gaps left which have not been filled yet. The price may first fill the gap which is the downside because it is already falling. After filling this it may rise and fill the gap in the upward direction.
Conclusion
The DLTR price is in a downtrend. It is currently rising to retest the 50-day EMA line. If it faces rejection from the 50-day EMA, it may continue its downtrend. The stock price can give a breakdown of $103.62 support. It may later reach the next support at $84.40.
However, for the price to be in bullish sentiment it has to reclaim the $123.41 level, which is acting as a resistance now. Thus, it may rise to its next resistance at $139.98.
Technical levels
Resistance Levels: $123.41 and $139.98.
Support Levels: $103.62 and $84.40.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing or trading comes with a risk of financial loss.