Datadog, Inc.Long
$DDOG Wedging / Volatility Contraction Pattern (VCP)
DDOG gets an upgrade this morning from DA Davidson to “Buy” driven by strong cloud solutions and expanding security management. That could be a fundamental driver.On the technical side,
DDOG has been basing for about 10 months and has now formed a VCP or Wedging pattern. That is the positive thing on the chart. The negative on the chart is it is below the 40-week MA in yellow and there is a downward sloping 50 DMA, red. Taking all these things into consideration I have an alert set on the upper downward sloping trendline. If it can break that I will look for an entry with a tight stop below the most recent low and just under the 50 DMA. All TBD.Nota
Not Ready - Situational awareness... Still high on watchlist.
Nota
I went long DDOG 3 days ago when it reversed upward from the chart posted above. I have added two times. Last one @ $120.14 for a full sized position. My average per share price is now 116.57. Let's see what happens.
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I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
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