I reconfigured the parallel channel and if it stays along the median it could hit $123 by earnings.
RSI showing it is not overbought and MACD signaling buy.
Looks like there is a path back to contend with previous resistance at $118.
This was nothing but a healthy market-wide sell-off/correction, mainly in technology, that brought this down. Fundamentals are still intact.
There was a recent bullish cross (annotated on the chart with a note) and Moving averages have maintained separation and strength since then on the 4H chart despite the pressure release.
Whether they break-out on earnings; it's too soon to tell, but it definitely looks set-up to trade up to that point so it could be a good short-term play.
I will have to come back and reanalyze when there are more whisper numbers on the street for earnings. Will also check on similar software/tech stocks that report and see how they react upon earnings as a gauge for how DDOG should react.
RSI showing it is not overbought and MACD signaling buy.
Looks like there is a path back to contend with previous resistance at $118.
This was nothing but a healthy market-wide sell-off/correction, mainly in technology, that brought this down. Fundamentals are still intact.
There was a recent bullish cross (annotated on the chart with a note) and Moving averages have maintained separation and strength since then on the 4H chart despite the pressure release.
Whether they break-out on earnings; it's too soon to tell, but it definitely looks set-up to trade up to that point so it could be a good short-term play.
I will have to come back and reanalyze when there are more whisper numbers on the street for earnings. Will also check on similar software/tech stocks that report and see how they react upon earnings as a gauge for how DDOG should react.
