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$DKS Earnings Drop Gives Swing Traders An Opportunity. See It Here...
Posted by Gareth Soloway Tuesday, May 16, 2017, 01:22PM ET
Read 939 times
Shares of Dicks Sporting Goods Inc (NYSE:DKS) fell sharply on Tuesday after reporting poor earnings and guidance. The stock is trading down over 13%. As it collapses and long investors who held into earnings are in pain, swing traders are beginning to scope out major buy levels. After extensive analysis, I am seeing a buy support level on the stock chart at $38.00. This is the first level I would consider buying for a swing trade long trade. Off this level, assuming the stock falls directly into $38, investors should see a solid bounce back above $40. Perhaps even a 10% bounce over multiple days to a week or two.
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