Short Term Trade Setup for DDOG
DDOG has been losing volume fast since its IPO. And that is very troublesome for this young pup.
Either way, a symmetrical triangle formed after the last rally, which i considered to be a 'deadcat' bounce because of the pitiful volume. This triangle formation does give merit that possibly a new high can be coming in over the next few weeks, but i am still leaning bearish. Whether you play bull or bear though, here are your stop losses
STOP @ 38
STOP @ 35
We should see the volatility come back in the very short, after the break of the triangle pattern
Either way, a symmetrical triangle formed after the last rally, which i considered to be a 'deadcat' bounce because of the pitiful volume. This triangle formation does give merit that possibly a new high can be coming in over the next few weeks, but i am still leaning bearish. Whether you play bull or bear though, here are your stop losses
STOP @ 38
STOP @ 35
We should see the volatility come back in the very short, after the break of the triangle pattern
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