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PPR - Five Below (FIVE) and Dillards Department Stores (DDS)

Teen-targeted discount retailer Five Below (FIVE) followed up on last week's trendline breakout to issue a second pocket pivot buy point yesterday off of the 10-day moving average. This is slightly extended, but we would look at any retracement of 1/2 or more of yesterday's move as a reasonable entry point.

Slow and steady Dillard's Department Stores (DDS) flashed a pocket pivot buy point along its 10-day moving average as it begins to emerge from a constructive base.

In most cases, for pocket pivots occurring along the 10-day moving average, one can use a violation of that moving average as a maximum downside stop. If the 50-day moving average is nearby, that can also serve as a guide for a downside stop, but in any case we would not allow downside stops to exceed -6% to -7% maximum.

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