Daily Stock Report

Dollarama Inc. - (DOL.TO) - March 10, 2022

Discount store chain Dollarama (DOL.TO) has been steadily climbing up the rankings in the SIA S&P/TSX 60 Index Report starting deep in the red zone and recently returning to the Green Favored Zone for the first time since the fall of 2020. Yesterday it finished in 14th place, up 3 positions in the last month. 

For nearly two years, Dollarama (DOL.TO) has been under accumulation, steadily advancing in a rising channel of higher highs and higher lows. This week, the shares have broken out to a new all-time high, confirming that their upward trend remains intact. 

Measured moves from previous trading ranges suggest potential upside resistance near $74.50 then $80.00. Initial support appears near $65.00 then $60.00

For nearly two years, since the March 2020 market bottom, Dollarama (DOL.TO) has been under accumulation, steadily advancing in an upward trend of higher lows and bullish patterns. This month Dollarama (DOL.TO) broke out to a new all-time high and completed its second bullish Double Top breakout of the year, signaling the start of a new upleg. 

Next potential upside resistance appears in the $74.20 to $76.45 area where several vertical and horizontal counts cluster around the $75.00 round number. Initial support appears near $65.85 based on a 3-box reversal. 

With its bullish SMAX score of 9, DOL.TO is exhibiting strength against the asset classes.  

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.