Dollar General (DG) Soon to be Demoted by a Correction?
This weekly chart of Dollar General (DG) is showing that the full impulse sequence could be in. The blue waves show distinct and crisp placements. Would this be the time to be buying aggressively? I assure you, many are. But what would YOU do?
The corrective sequence has been labeled as an ABC and likely, both the A and B waves are complete clearing the way for red C decline. The subwaves for blue 5 show that all circled white subwaves are in! The C wave in this chart targets the prior blue wave 4...but can it go much lower? The next chart shows that scenario.
Forward discernment is key to being aware of as many scenarios possible. The intitial abc decline could be the subwaves to a higher degree of trend red A wave. The B bounce could pattern out a H&S top formation as shown by the LS, H, RS labels. Using the minimum measurement for price travel, the could place the C wave to a near 0.938 Fib level..ouch! Be cautious!
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