Technical Support in Place for Dollar General Stock

Both DG's 260-day and 320-day moving averages have had bullish implications in the past

Deputy Editor
Jan 12, 2023 at 2:09 PM
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    The shares of Dollar General Corp (NYSE:DG) have been sliding on the charts since the start of the year, though they're still holding onto a 1.9% year-over-year gain at last glance. There is reason to believe DG could soon stage a bounce, however, as the stock has pulled back to two trendlines with historically bullish implications, according to data from Schaeffer's Senior Quantitative Analyst Rocky White. 

    Dollar General stock is within one standard deviation of its 320-day moving average for the seventh time in the past three years, after which the stock has been positive one month later 100% of the time, averaging a 9.2% gain. Furthermore, the stock's 260-day average has seen eight similar signals, with DG higher one month later six of those times in the past three years, averaging a 4.3% gain. 

    DG Jan12

    Now could be a good time to weigh in on the security's next move with options. The stock is seeing attractively priced premiums at the moment, per DG's Schaeffer's Volatility Index (SVI) of 26%, which sits in the 19th percentile of its annual range. 


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