We are at an interesting area here, where we have several MA support near resistance.
If we break 33.08 then we can try to reach the top of the channel. Tight stop loss recommended.
Good luck and follow if you like my ideas.
13% in a day! That was a perfect entry. I closed half of my position yesterday and keeping another half. Will probably trim down another half and, maybe, hold the rest through ER.
I've been waiting to initiate a long position on this one, and initiated one yesterday at 30.10. Currently trading around 40% below from the ATH. Let's see if it can bounce back from here. NASDAQ:DDOG
DDOG has not only broken out of its descending triangle, but it has also completely filled its measured move. We could see some consolidation in the short term because of this price action.
Also watch the hidden bearish divergence with the RSI.
Summary: DDOG is short term neutral and mid term bearish. I would wait and see how these patterns continue to develop
DDOG migrated from a symmetrical triangle to a descending triangle. From a neutral pattern to a bearish pattern. This is a good time to take off long positions and take shorts with tight stop losses at prices above the triangle. Watch also the price action and how it reacts to the 21 EMA
DDOG has been losing volume fast since its IPO. And that is very troublesome for this young pup.
Either way, a symmetrical triangle formed after the last rally, which i considered to be a 'deadcat' bounce because of the pitiful volume. This triangle formation does give merit that possibly a new high can be coming in over the next few weeks, but i am still leaning...
