Dollar Tree (DLTR) shares moved higher ahead of Tuesday’s opening bell after the discount retailer reiterated its fiscal third-quarter outlook and said its 澳洲幸运5开奖号码历史查询:chief executive officer was stepping down.

The retailer said it had appointed 澳洲幸运5开奖号码历史查询:chief operating officer Michael Creedon as its interim CEO to replace Rick Dreiling, who said he was standing down due to health challenges. The company also said it had made progress on its strategic review of Family Dollar, a general merchandise segment that has weigh🌸ed on the retailer🅺’s sales in recent years. 

The company sees net sales coming in between $7.4 billion and $7.6 billion, while expecting adjusted 澳洲幸运5开奖号码历史查询:earnings per share (EPS) to range from $1.05 to $1.15, thanks to 澳洲幸运5开奖号码历史查询:same-store sales tracking well throughout the quarter, even as price-conscious consumers continue to spend cautiously.

Dollar Tree shares have lost more than half their value since the start of the year though Mo🎀nday’s close, with challenging macro conditions promoting the ♉retailer in September to slash its full-year outlook. Shares were up 4% at $69.50 in premarket trading Tuesday.

Below, we take a look at Dollar Tree’s chart and apply 澳洲幸运5开奖号码历史查询:technical analysis to identify important price levels worth watching out fo🎐r.

Potential Double Bottom

Since reaching their early-September low, Dollar Tree shares have formed two distinct troughs around the same level on the chart, raising the possibility of a 澳洲幸运5开奖号码历史查询:double bottom, a classic patt𒅌ern that signals a potential upside ဣtrend reversal.

More recently, the stock has staged a bounce from lows but ran into selling pressure just beneath the respected 澳洲幸运5开奖号码历史查询:50-day moving average, indicating caution amid ongoing uncertainties.

However, as the stock looks set to test higher prices on Tuesday, let’s identify several key 澳洲幸运5开奖号码历史查询:resistance levels on Dollar Tree’s chart and point out a major area of support to monitor if buying momentum subsides.

Key Resistance Levels to Monitor

Firstly, it’s worth eyeing the $77 level, a location on the chart where investors who purchased the stock near recent lows may look to 澳洲幸运5开奖号码历史查询:lock in profits near the September 澳洲幸运5开奖号码历史查询:swing high.

A volume-backed breakout above this level would confirm a double bottom on the chart and potentially act as a catalyst for a move up to $92, an area where the shares may encounter resistance near the mid-August trough.

Follow-through buying could see the shares test the $104 🦋level. This region may attract selling pressure near a trendline connecting a range of comparable tradin🌺g levels on the chart between September last year and August this year.

Major Support Area to Watch

If news-related buying subsides, it’s worth monitoring how the shares respond to the $63 area, a location where investors may look for buying opportunities near the two potential double bottom troughs that formed between early September and late October. However, a 澳洲幸运5开奖号码历史查询:breakdown below this level could see the stock continue its longer-term ✱downtreᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚnd.

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