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6:01 PM · 15 November 2021

Dollar Tree stock soars 13%

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Dollar Tree (DLTR.US) stock jumped over 13.0% after activist investor Mantle Ridge secured a stake of at least $1.8 billion in the discount retailer. The New York investment firm is looking to push the discount retailer to take action to boost its share price by improving its Family Dollar chain and pricing strategy, The Wall Street Journal reported, citing sources familiar with the matter.  The news prompted Deutsche Bank to upgrade the stock to “buy” from “hold,” citing potential improvements. Deutsche Bank believes that today's news may help Dollar Tree stock rise more than 30%.

Dollar Tree (DLTR.US) stock launched today's session with a bullish price gap and hit a new all-time high at $132.00 which is strengthened by 127.2% external Fibonacci retracement of the last downward wave. If current sentiment prevails, the next target for buyers is located at $142.60 and is marked with 161.% retracement. However if sellers manage to regain control, then nearest support lies at 120.30. Source: xStation5

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