Paul Meyer Buys Houses

UPDATE – Dicks Sporting Goods earnings – Emerging trend

After looking at Qcharts and seeing Dicks Sporting Goods stock emerging a new uptrend with its profitable earnings statement and raising its 2007 outlook I had to post the chart for anyone interested to see – what I see. What I see is on the weekly major trend chart DKS has been totally sold off with the market after its 2:1 stock split. Now at $30.54 it is showing bottom curves going up on the MACD, StockRSI, and Directional movement. So basically it is at the bottom of the trend starting to move up. The price has fallen around 10pts since the 2:1 stock split. The peg is at around 1.20. I would practice on 2008 DKS JAN 30 CALLS @ $30.54.
This looks like a super buy in my opinion.

Check out the full weekly trend chart with my analysis:

DKS weekly stock chart

(Click on picture to show full size)

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