Is Datadog Rolling Over?
By:TradingView
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Datadog has been sliding since November, and some traders may think its downtrend will accelerate.
The first pattern on today’s chart is the February 10 high of $133.44, one day after jumping on earnings. DDOG stalled at the same level last week. Is resistance in place?
Second, the 50-day simple moving average (SMA) had a “death cross” below the 200-day SMA in February. Prices have also been stuck under the 200-day SMA. Both patterns may suggest its longer-term trend has turned negative.
Third, stochastics have dipped from an overbought condition.
Fourth, the cybersecurity stock has slipped below its 8- and 21-day exponential moving averages. That may reflect short-term bearishness.
Finally, the recent weakness follows an unsuccessful breakout attempt above DDOG’s previous all-time high.
The first pattern on today’s chart is the February 10 high of $133.44, one day after jumping on earnings. DDOG stalled at the same level last week. Is resistance in place?
Second, the 50-day simple moving average (SMA) had a “death cross” below the 200-day SMA in February. Prices have also been stuck under the 200-day SMA. Both patterns may suggest its longer-term trend has turned negative.
Third, stochastics have dipped from an overbought condition.
Fourth, the cybersecurity stock has slipped below its 8- and 21-day exponential moving averages. That may reflect short-term bearishness.
Finally, the recent weakness follows an unsuccessful breakout attempt above DDOG’s previous all-time high.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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