DDPN trade ideas
DD-> consolidation over, now show timeDD posted good result, mining sector is hot currently, consolidation volume decreased, nice green candle with increased volume. I think its ready to run.
hope you are enjoying my analysis, ideas here are for entertainment and education these are not trading advice
$DD - curl Through my scanning tools I happened across DD which is cyclically down and maybe a nice one to pick up for a 5-12 day swing.
Short volume is down and through backtesting the set up, it looks like returns of 7-10% are possible.
See if you can get it on the pull back a little at the open or maybe it pulls back EOD tomorrow, then hold with target of 7-10%
E.g. Entry at $74.50, stop loss around $71.50 target $79-83
downgraded by BoAnotes from BoA Global Research: "In order for the split-off to close fully subscribed, DD needs nearly 197mn shares to tender. Much of this volume will come via merger arbitrage investors, which we estimate may have already purchased 170mn shares, the bulk of which has come since the formal tender launch on 31 Dec ‘20. Of course the deal could be oversubscribed, but even still, with the tender window closing on 29 Jan, we are likely through a majority of the buying. This large pattern of technical buying will run out by month-end, when it will be replaced by technical headwinds as index funds (many of which do not participate in tenders) are forced to sell shares of DD to rebalance for the smaller pro forma market cap."
DD wants dem fitties too what a trendyDuPont wants to hit the 50 DMA too indicated by the purple box there.
Pretty weak dojis leading this current rally up, could call today’s candle a shooting star.
Nice random spot kind of start of this current rally shows 50% retracement right into the 50 DMA also.
Bingo