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Breaking Down Dollar General's Dramatic Fall: Lessons from a Long Price Channel

By Tim KnightStock MarketsSep 01, 2023 01:22AM ET
www.investing.com/analysis/breaking-down-dollar-generals-dramatic-fall-lessons-from-a-long-price-channel-200641484
Breaking Down Dollar General's Dramatic Fall: Lessons from a Long Price Channel
By Tim Knight   |  Sep 01, 2023 01:22AM ET
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Low-end retailer (to put it kindly) Dollar General (NYSE:DG) has lost about 50% of its value since last year. As a chartist, I find this failure fascinating since it illustrates the importance of this very long price channel. DG’s entire existence as a public entity has been contained within this channel until quite recently, but once a bit of damage was done, the writing was on the wall.

Dollar General Corp Price Chart
Dollar General Corp Price Chart

Looking at this summer, you can see how the “damage” took place on the left side of the chart. Even though the price managed to claw its way back into the channel, a little more than a week ago it slipped under the former supporting trendline yet again. On Thursday, all holy hell broke loose, as the stock collapsed and reached a point such that the past

Dollar General Corp Price Chart
Dollar General Corp Price Chart

Anyway, nothing actionable here, but pretty extraordinary moves for this fallen giant.

Breaking Down Dollar General's Dramatic Fall: Lessons from a Long Price Channel
 

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Breaking Down Dollar General's Dramatic Fall: Lessons from a Long Price Channel

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Comments (1)
Tonemeister CEO
Tonemeister CEO Sep 01, 2023 4:17AM ET
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Bit of buying here by some, not sure I want to be long now. As you pointed out, seeing long-term channel support has never been more important, given sweeping changes in macro conditions.
 
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