In-Depth Technical Analysis of DICK'S SPORTING GOODS INC.

We've identified DICK'S SPORTING GOODS INC (NYSE:DKS) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:DKS for further developments.

Technical analysis of NYSE:DKS

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Overall DKS gets a technical rating of 10 out of 10. In the last year, DKS was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that DKS is one of the better performing stocks in the market, outperforming 87% of all stocks. On top of that, DKS also shows a nice and consistent pattern of rising prices.
• DKS is one of the better performing stocks in the Specialty Retail industry, it outperforms 76% of 119 stocks in the same industry.
• DKS is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so DKS is lagging the market slightly.
• In the last month DKS has a been trading in the 214.67 - 235.81 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

For an up to date full technical analysis you can check the technical report of DKS

How does the Setup look for NYSE:DKS

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:DKS this score is currently 9:

DKS has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 239.18. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 228.02, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

More breakout setups can be found in our Breakout screener.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.