DT trade ideas
DT - Dowwnard momentum short setup DT - MASSIVE $ selling recently. $1b in selling from one insider alone (20% sell). Looking for a break of 34.93. Stop signal 37.67. Target 1 30.53. Target 24.37 Target 3, 19.33. Could consider August $35 Puts.
Buy dynatrace Tiker DTinteresting company with excellent upward setting.
two strategies I see.
the first to buy on the strength in the breaking of the area 39.42
wait for a retracement and buy on a fibnodes @ 34.63
independently manage SL and TP NYSE:DT
Long $DT - 1/9/2019Recent IPOs and speculative names, such as $BYND and $UBER, have been gaining some attention these past few day. Other than being a speculative name, $DT has an amazing long setup. Recently $DT broke out of it's flag pattern and made new highs for the first time since it's IPO release. $DT pulled back into the breakout area and held with a beautiful Hammer Candlestick. When I saw this pattern yesterday, I wanted to enter long, however the R:R at the time was not favorable. Today I got another opportunity to enter with a good R:R as $DT pulled back. I entered long at 27.75 with a stop loss below the hammer at 26.50. My target on the trade is 32.00.
Although I expect $DT to make a higher low on the 30m chart, I do suspect $DT to retest the breakout area again before taking off. Going to be patient with this one.
DT - Cup & HandleDynatrace has not been actively traded for very long but the daily chart has created a cup & handle pattern which just needs a breakout for confirmation. The backside of the pattern can be interpreted as a bull flag that would have broken out during today's trading session. Notice how the RSI held the 50 level as well as the stock exits an oversold condition. The Sector, Industry, & stock all have relative strength against the SPX as well.
My first two price targets that are noted on the chart are Fibonacci extension levels. The third target is based on the bull flag breakout while the fourth target would be if we receive confirmation of the cup & handle breakout.
