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Dillard's Inc - DDS - Descending Channel
Casey Murphy - March 27, 2008


Dillard's Inc - DDS

March 26, 2008

Last Trade

$17.82

Volume

1,036,040

52-Week High

$40.56

52-Week Low

$14.19

Commentary:
For today's chart we've chosen to take a look at Dillard's Inc (NYSE:DDS) because it bounced off the resistance of a descending channel. As you can see from the chart below, the trendlines have created a well-defined trading range over the past six months and it will be interesting to see if this story will be able to continue. On February 7, we noted that that bearish traders would likely set their short-term targets near the January low of $14.50. As you can see from the chart, the bears did indeed take control of the momentum and now traders are watching to see if this will happen again. We expect that traders will set their targets near the horizontal trendline again and it would not be surprising to see them protect their positions by setting a stop-loss above yesterday's high of $19.20.

 


Happy Trading,
Casey Murphy,
Senior Analyst, ChartAdvisor


 Previous Chart Alerts:    GM   MMM   QQQQ   DDS   QQQQ   ADTN   MO   MET   DDS   MMM   ADSK   EP   CELG   TOL   LEN   QQQQ   PTEN   FE   QQQQ   QQQQ   JCP   QQQQ   LEN   AEP   HUI   ORB   QQQQ   ATI   QQQQ QQQQ   JCP   CKFR   QQQQ   QQQQ   APOL   QQQQ   AMED   QQQQ   EBAY   QQQQ   INAP   QQQQ   GD   QQQQ   INTC   QQQQ   ABK   QQQQ   NTRS   ACE   BJ   ALL   GGG   BA   WMB  


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