Dollar Tree Inc (NASDAQ:DLTR) is looking weak at these levels and setting up for a good risk reward short tradeif it can break below support at 83.03. This is short-term support and below this is lots of air to the tune of over 6% before the next support level. This trade would be voided if DLTR can get back above 84. Risk 1% for 6% is not a bad risk reward. The thing to watch to see if this trade works out is a break of the 8 day ema and close below it. For the last few months DLTR has been trending between its upper BB and the 8 day ema. Each time DLTR breaks below this 8 day ema the declines range from 2% to 12%(Check below for that chart ). Right now the 8 day ema is at 82.70 only a few points away from today’s close. Keep an eye on this trade.
