NYSE:DT may be ready to breakout.

DYNATRACE INC (NYSE:DT) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:DT.

Deciphering the Technical Picture of NYSE:DT

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.

We assign a technical rating of 8 out of 10 to DT. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, DT is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• In the last month DT has a been trading in the 51.70 - 55.49 range, which is quite wide. It is currently trading near the high of this range.
• Looking at the yearly performance, DT did better than 75% of all other stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
• DT is an average performer in the Software industry, it outperforms 61% of 282 stocks in the same industry.
• DT is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so DT is lagging the market.

For an up to date full technical analysis you can check the technical report of DT

Looking at the Setup

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:DT scores a 9 out of 10:

Besides having an excellent technical rating, DT also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 54.37, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for DT in the last couple of days, which is a good sign.

How can NYSE:DT be traded?

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation 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.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.