Recent IPO $DUOL is presenting to us a classic double bottom pattern. Within the last couple of weeks, there has been strong volume around the support areas. The second bottom also undercuts the first bottom, which is a positive sign as well, as we want to see that shakeout occur.
Another thing is that earnings, subscriptions, and bookings are also showing signs of strong growth.
Now as for the downside, the company is still not profitable and is operating under a net loss. There is also an overhead supply from the Post-IPO volatile price action.
I would be looking to progressively scale in once it starts increasing in volume as it tries to break past the middle-high of the "W" pattern, around $106.
Another thing is that earnings, subscriptions, and bookings are also showing signs of strong growth.
Now as for the downside, the company is still not profitable and is operating under a net loss. There is also an overhead supply from the Post-IPO volatile price action.
I would be looking to progressively scale in once it starts increasing in volume as it tries to break past the middle-high of the "W" pattern, around $106.