DataDog: Expected Move Towards $110 Overhead Resistance
| May 16, 2022 05:04AM ET
Today’s instrument is the DataDog's stock traded on the NASDAQ exchange under the ticker DDOG).
When we look at the dog's chart, we see the weeklong downward trend coming to an end, as the market’s overall short-term momentum turned positive.
We can see the fall from the $110 level on the 7th of May, finding a bottom at the $92 range midweek, and the reversal beginning on the 15th of May pushing higher and closing the week at $108.70 where it was last found trading.
Today we can expect a move towards and above the $110 overhead resistance level.
If, however, it doesn’t manage to hold on to the current level, then a move close to the $98 range can be expected.
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