DST cup and handle followed by double bottom
DST has a couple of good continuation chart patterns going on.
A cup and handle formed below the $100 figure. $100 can often be a strong resistance/support zone. But once price broke through (and confirmed the cup and handle) this chart pattern suggested price could go higher.
More recently price formed a double bottom - another continuation pattern suggesting strength to the upside. The second part of the double bottom used the daily 50ma as support and, at around $104, suggests the $100 zone is now comfortably cleared.
Price is now trading at just over $110 and we could see price head towards the $118 mark (taking a measured move from the cup and handle).
I'm not looking to enter any new positions right now. But if I were (and I was happy to enter a low volume stock) I would put DST on my watchlist.
A cup and handle formed below the $100 figure. $100 can often be a strong resistance/support zone. But once price broke through (and confirmed the cup and handle) this chart pattern suggested price could go higher.
More recently price formed a double bottom - another continuation pattern suggesting strength to the upside. The second part of the double bottom used the daily 50ma as support and, at around $104, suggests the $100 zone is now comfortably cleared.
Price is now trading at just over $110 and we could see price head towards the $118 mark (taking a measured move from the cup and handle).
I'm not looking to enter any new positions right now. But if I were (and I was happy to enter a low volume stock) I would put DST on my watchlist.
Web: dt.live
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Instagram: instagram.com/dynamictrader
Twitter: twitter.com/dynamictrader
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