Datadog (DDOG): Double bottom breakout favors 116-121
This is a copy&paste from a Bank of America Global Research Note:
"DDOG is an infrastructure software stock with a breakout from a 2023 double bottom on the move above the 88-90 area that favors further upside to 116-121 (chart resistance and double bottom target). A bullish flag pattern correction toward the 90-88 area bodes well for a retest of the double bottom breakout. However, if this stock fails to hold 90-88, the improving weekly MAs offer additional support from the 84.30 to the 78.40s. A double bottom for DDOG relative to the S&P 500 (SPX) confirms this bullish setup.
"DDOG is an infrastructure software stock with a breakout from a 2023 double bottom on the move above the 88-90 area that favors further upside to 116-121 (chart resistance and double bottom target). A bullish flag pattern correction toward the 90-88 area bodes well for a retest of the double bottom breakout. However, if this stock fails to hold 90-88, the improving weekly MAs offer additional support from the 84.30 to the 78.40s. A double bottom for DDOG relative to the S&P 500 (SPX) confirms this bullish setup.
Kommentera:
I'm betting for $130
