Dollar Tree (DLTR) was upgraded to a Buy by TheStreet's Quant Ratings service. In our last review of the charts of DLTR way back on March 1, we wrote that "It does not look like DLTR is finished with its current decline. Wednesday's earnings could be pivotal but I do not feel confident in recommending a purchase just yet." We pointed out that "In this daily Point and Figure chart of DLTR, below, we can see a potential downside price target in the $86 area, however, we can see plenty of potential support."
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Monday turns uninspiring as traders lack incentive to buy and oil moves higher amid poor economic data.
A rally back to this area could unfold soon, so current investors should keep a tight leash on shares.
Here's our first price target and our long term objective.
Econ 101 suggests that at some point, either the supply side catches up, or demand falls to get prices back in equilibrium. Let's see what this means for oil -- and a potential recession.