Go to the Globe and Mail homepage

Jump to main navigationJump to main content

A customers walks out of a Family Dollar store at Hickory Grove Market in Charlotte, N.C. (ROSS TAYLOR/AP Photo/Ross Taylor)
A customers walks out of a Family Dollar store at Hickory Grove Market in Charlotte, N.C. (ROSS TAYLOR/AP Photo/Ross Taylor)

What the Charts Say

Bullish on Family Dollar Stores Add to ...

In our previous report (July 31, 2010 – $41.35) we described how Family Dollar Stores Inc. had a breakout from a large, bullish “W” formation (dashed lines) and above the neckline of this pattern (dotted line). Subsequently the stock had a series of rallies and pullbacks mostly above its 40-week moving average and reached a recent high of $60.53 (A) for a 46-per-cent appreciation at that time. Only a decline below $52-$53 would be negative.

More related to this story

Point & Figure measurements provide targets of $69 and $74. The large “W” formation (dashed lines) supports higher targets.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. ( www.phases-cycles.com). Ron Meisels is a contributor to the www.NA-marketletter.com website. They may hold shares in companies profiled. Please see the site for a glossary.

Chart source: www.decisionplus.com

Follow us on Twitter: @Monicarizk1, @RonsBriefs

 
Live Discussion of FDO on StockTwits
More Discussion on FDO-N

Topics:

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories