Domino's Pizza IncShort
DPZ Ascending Wedge and Return to Long-Term Trend
DPZ has been trading around a channel that originated in 2016 when current (soon-retiring) CEO Patrick Doyle really revamped Domino's offering and transformed the company into a growth stock. We've seen these parallel lines alternate as support and resistance as the stock moves around it. Though we do see extended divergences from these channels, the price seems to return.
I think the time is now because of:
I believe we can see a retest of 200
I think the time is now because of:
- A forming ascending wedge and a breakout to the bottom todya
- RSI divergence with the last highs (ATH)
- Decreased volume for last rally.
I believe we can see a retest of 200
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