Domino's Pizza (DPZ) pushed up through the downtrend that started in June and is perhaps ready to bounce off the top of the trend for the holiday and game season.
Reasoning: The overall market was having a tough time yesterday, creating a lot of opportunities. As prices recover (or not), many stocks could follow. Of course, this is just an idea. I could be jumping in too soon. I am also betting patterns, trends, and fractals against my own, custom indicator that says it's going down in a higher time frame. The indicator follows past price action. It doesn't predict the future. Either I'm right, or my indicator is right and the whole market is going south. We'll see in a couple of days...
Disclaimer: For entertainment or educational purposes only. If this were actual investment advice, it might state something about past performance not being a guarantee of future results, and incorporating risk management into the investment strategy. If you have any questions, you should seek out competent council, or seek study on your own.
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I knew I was seeing something. Bad news and earnings spiked price down in pre-market to a low of 225.13. Stock buyback kicked in, pushing it to 254.92 at this writing.
Forgot to add that I might look for it to break above 250 and wander towards resistance closing the gap at around 270.
apples34
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any update before earnings? breakdown back into the downward channel?
Hellork
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@apples34, I don't know about earnings, but it's apparently encountering a lot of resistance at this level with decent support around 235. This time, the earnings appear to be already priced in. The volume profile plots the most resistance between 240-250, giving it a high probability of remaining where it's at. It could consolidate into most of the October calendar.