Uncovering Noteworthy Technical Analysis Findings for DATADOG INC - CLASS A (NASDAQ:DDOG).

Our stock screener has identified DATADOG INC - CLASS A (NASDAQ:DDOG) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NASDAQ:DDOG.

Technical analysis of NASDAQ:DDOG

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Taking everything into account, DDOG scores 7 out of 10 in our technical rating. In the last year, DDOG was one of the better performers, but we do observe some doubts in the very recent evolution.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• Looking at the yearly performance, DDOG did better than 81% of all other stocks.
• DDOG is one of the better performing stocks in the Software industry, it outperforms 72% of 277 stocks in the same industry.
• DDOG is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so DDOG is lagging the market slightly.
• In the last month DDOG has a been trading in the 118.46 - 132.90 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

Our latest full technical report of DDOG contains the most current technical analsysis.

How do we evaluate the setup for NASDAQ:DDOG?

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NASDAQ:DDOG currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

DDOG has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 132.98. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 126.79, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NASDAQ:DDOG?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.