- Dollar General Corp (DG) shares have staged a constructive near-term bounce after the stock stopped its slide on a dime, at the $100 mark three weeks ago.
- The stock currently carries a 48% “Sell” overall technical opinion from Barchart, but it is attempting to stage a rally from this level which makes this a contrarian situation.
- Short-term buying pressure has turned aggressively positive, with the price posting a 14% gain since that May low. Still, the stock is about 40% south of its all-time high, in a stock market where the broad averages are within 5%-10% of theirs.
- Despite a steep 3-month drawdown, the consumer staples anchor has carved out a solid technical floor, well above its $95 annual low.
