$DG - RC -
Added 2024-04-16 19:03:36 +0000 UTC$DG has not lost its impulse structure but like a lot of stocks right now, it is trying to test previous support levels.
We can see that $DG just held its 0.618 Fib today at $144 but any lower than this and a test of the Wave 1 level is next, any infringement below this level at $140 and this is not in an impulse wave then.
$DG is seen as a safe haven during times of a recession, we have not reached a recession stage yet, a correction is not a recession, as people move to cheaper alternatives due to the cost of living being so high, arguably this has not happened yet. But if $DG wants to be regarded as a safe haven during a market correction, it must hold the $140 line.
Comments
Also, when you do the fib levels from $122 the 0.618 lvl is exactly at $140, so it makes more sense to me
Vojtěch Šimeček
2024-04-16 20:58:50 +0000 UTCGar, why do you choose to chart your fib levels from the $128 and not from the bottom of wave 2 at $122? This information would help me a lot🙏🏻
Vojtěch Šimeček
2024-04-16 20:57:31 +0000 UTCThanks 🙏
Trevor Sweetnam
2024-04-16 19:09:03 +0000 UTC
