The RSI buy

One of the stocks that I am long (bull Risk Reversal) is DLTR (Dollar Tree Inc). Today it is basically flat (while the market is up over 2%) so I thought I would check in to see what the action is.

On the 5 minute chart below, you can see that it moved up early out of the gate, but has been under some selling pressure most of the day so far:

As noted by the Green circle, the RSI is nearing the 30 level – which is considered oversold. Look for a bounce here as buyers come in.

Leave a Reply

Your email address will not be published.