Dillard's, Inc. (DDS)

[ITMS]

Dillards Inc Is Tanking After Earnings, Here's The Trade $DDS

This morning, leading retail stock, Dillards Inc (NYSE:DDS), is trading sharply lower after reporting earnings. The retail giant is trading lower by more than 12.0 percent to $72.63 a share. Traders should note that the stock is now trading below its important 200-day moving average. This is usually a signal of further weakness for the shares going forward. The daily chart trend is down and the stock is in a weak technical position.

Traders and investors must now be patient and wait for this stock to fall into a key support level before entering on the long side. The level that strikes me as a solid buying opportunity will be around the $65.50 area. This is key support level is where the 100-week moving average is currently. It is also a key retrace level that was defended in early May. This major support level should be defended by the institutional crowd when retested.





Nicholas Santiago
InTheMoneyStocks