For about two months DLTR – the Dollar Tree, Inc. – was trading in a rather narrow range, within the blue box. Price eventually reached the lower Bollinger Band and stopped just above its 50-day exponential moving average.
The gap and the impressive bullish candlesticks of the last two sessions, however, pushed price above its 20- and 50-day exponential moving averages, above the upper side of the blue box and above the upper Bollinger Band.
This sudden bullish reversal has been shown in MACD, which moved above its signal line.
Likewise, the stock’s Relative Strength also jumped over its 20-day exponential moving average.