March 2, 2012
Shares of Dollar Tree Inc (NASDAQ: DLTR) have again reached new closing highs and new all-time highs.
Two weeks ago, after also reaching new highs on Feb 17 at $89.35, DLTR sold off and corrected sharply. But the stock has again rallied and is again at new highs.
A month ago we fixed a target of $88.93 for DLTR. That level has now been surpassed.
We look for Dollar Tree to continue moving higher in coming weeks. There is no target this time as DLTR has surpassed them all, but that does not mean it cannot continue to move higher.
A long position using a tight sell stop at just below $87.00 offers a very low risk trade.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy does have a position in Dollar Tree.
Disclosure: I am long DLTR.