Looking for takeout pizza? Try Domino’s ($DPZ) (March 30, 2020)
DPZ
I want to look at Domino’s Pizza ( NYSE: DPZ ). After hours the company came out and said that their Q1 Comps were just 1.6 percent higher at US stores and that their sales were down. They are impacted by many factors; we all know what is really going on.
The question is, do you buy this dip? If you are really looking to trade, if you are really looking for trade, then sure, take this pullback as a gift. You are buying down here and maybe give it about a 6 percent stop. Buy it as close to the 50-day moving average as you can and then give it a fairly tight stop.
It’s a tough time to be trying to make money in the market these days. Even doing Chart of the Day type of things, where I am trying to find you a good trade that is actionable, that you can make money on to convince you that I know what I am doing. But this day, right now, it is tough for anybody to show you that they know what they are doing unless they are saying to wait for a better pitch.
This stock has pulled back now so I would say you can buy it here; keep a stop below the 50 and you are probably going to do pretty well.
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