Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

Chart and Trend Signals Align for Datadog

by June 23, 2023
June 23, 2023
Chart and Trend Signals Align for Datadog

It does not always happen, but sometimes the indicator and chart signals align to send a powerful message. Datadog (DDOG) sports a confirmed bullish reversal on the price chart and a trend signal from the Trend Composite. Today’s article will review these signals and highlight a developing short-term pattern.

The chart below shows Datadog with a confirmed bullish reversal pattern. First, DDOG formed two lows in the low 60s for a Double Bottom (green lines). These lows represent an area of demand (support) in the low 60s. The peak between these two lows marks overhead supply (resistance). Demand prevailed over supply as the stock surged above the red resistance line.  

The indicator window shows the Trend Composite turning positive just before the Double Bottom breakout. The Trend Composite aggregates signals in five trend-following indicators. It surged to +5 and this means all five indicators are bullish. This signal reverses the bearish signal from March 7th, 2022.  

With the long-term trend up, it is now time to look for tradable pullbacks or short-term oversold conditions. The next chart shows broken resistance at 90 (red line) turning into support (green line). This is a classic tenet of technical analysis. One price breaks resistance and demand overpowers supply, the previous supply overhang becomes an area of demand (support).

DDOG pulled back to the breakout with a pennant in June. This is a short-term bullish continuation pattern that is dependent on the prior move for a directional bias. The prior move was up (early May to early June) so this is a bullish continuation pattern. A breakout here would be bullish. Barring a breakout, chartists can watch the Momentum Composite for a move to -3 or lower to signal a short-term oversold condition.

A rotation strategy trading S&P 500 and Nasdaq 100 stocks was just released at TrendInvestorPro. This strategy trades weekly using two trend indicators, two volatility filters and a ranking indicator. Strategy and performance metrics are detailed in a comprehensive article. We will complete this series and introduce a signal table next week. Click here to learn more.

The Trend Composite, Momentum Composite, ATR Trailing Stop and eight other indicators are part of the TrendInvestorPro Indicator Edge Plugin for StockCharts ACP. Click here to take your analysis process to the next level.

—————————————

0
FacebookTwitterGoogle +Pinterest
previous post
Boost Your Business Growth: A Comprehensive Guide on Leveraging LED Signs
next post
Schumer’s AI regulatory effort slows as ‘weeks’ turn into months

You may also like

Putting the Theory into Practice

November 30, 2022

Market Has Stress Fractures but No Clear Breaks

October 18, 2023

Decisive Long-Term Breakout for Gold

March 15, 2024

Some Trading Pairs to Think About Right Now

June 6, 2023

When Uncle Utilities (XLU) Shows Up Drunk

April 4, 2023

Gold Discounts are Historically High

September 21, 2022

This Is The Only Segment Of The Market...

September 18, 2023

Is the S&P 500 In Late Stage Accumulation?

February 4, 2023

Stop Trading In The WRONG DIRECTION With This...

March 16, 2024

Understanding Correlation Coefficients

November 8, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025
    • Snub of Musk’s NASA nominee ally preceded sudden ‘big, beautiful bill’ criticism, Trump feud

      June 6, 2025
    • Supreme Court rules DOGE can access Social Security information

      June 6, 2025
    • US sanctions money laundering network aiding Iran as regime faces nuclear reprimand at IAEA

      June 6, 2025
    • From Tariffs to Tech: Where Smart Money’s Moving Right Now

      June 6, 2025
    • Your Weekly Stock Market Snapshot: What It Means for Your Investments

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,019)
    • Politics (15,556)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved