Warren Buffet likes Domino’s Pizza $DPZ – November 14, 2024
This is Scott McGregor at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day.
I want to take a look at Domino’s Pizza ( NYSE: DPZ ). The news came out after the market closed today, that Warren Buffett’s company, Berkshire Hathaway ( NYSE: BRK.B ), has taken a position in Domino’s Pizza ( NYSE: DPZ ).
The stock is acting positively after hours. We can see the close down here at 436.00 and we see the stock now up after hours at 465.00. So this stock has moved back above the 200-day moving average. What I want to see from the stock is, I want to see it hold above this 200-day moving average.
If this can stay above the 200-day moving average, maybe even just base for a couple of days and allow that 200-day moving average to act as a floor, that could give you a pretty clear level to define your risk off of. Over at Stock Market Mentor, we are all about risk management. We make money consistently, but we do it by managing our risk.
That’s really what I would look for here on this stock. I want to see the stock close above and hold above that 200-day moving average. Ideally, back-test it and really give us a signal that that level is going to act as a support zone so we can define a risk off of it.
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