DDOG 1-3 week horizon
Reward Potential 13% - 21% | Risk 5.5%
DDOG has been on a bullish channel for the past 2-3 months (green) however the last month or two, it seems to have created a new more aggressive bullish channel (blue). Key level to break around 124 area, just above the original bull channel (green) upper boundary, once this level breaks new blue channel is confirmed.
My buy zone is between 110-104.89 area which happens to be around 61.8% fib level, 107.78 support, bottom boundary of new bull channel (blue) forming, and around 50ema (previous swing low bounced off 50ema) . We have multiple confluence of indicators pointing to the same direction. Stop loss just bellow support2 at 101.82 area. Target1 121.42 (13%) and target2 130.44(21%) .
Disclaimer
I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
Reward Potential 13% - 21% | Risk 5.5%
DDOG has been on a bullish channel for the past 2-3 months (green) however the last month or two, it seems to have created a new more aggressive bullish channel (blue). Key level to break around 124 area, just above the original bull channel (green) upper boundary, once this level breaks new blue channel is confirmed.
My buy zone is between 110-104.89 area which happens to be around 61.8% fib level, 107.78 support, bottom boundary of new bull channel (blue) forming, and around 50ema (previous swing low bounced off 50ema) . We have multiple confluence of indicators pointing to the same direction. Stop loss just bellow support2 at 101.82 area. Target1 121.42 (13%) and target2 130.44(21%) .
Disclaimer
I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.