Two New Trades for More Upside
DDOG and PLTR are showing potential upside
I had my alerts set on Datadog (DDOG), but missed Palantir (PLTR) until I saw it in my nightly chart work. They still both have potential, though.
Trading Datadog Stock
On Thursday, Datadog gave us a monthly-up and weekly-up rotation by clearing $94.39 and $92.45, respectively.
It’s still contending with the 200-day moving average, although it technically closed above it. If this one can gain traction over this area, $100 is a reasonable upside target, if not higher.
What I really liked, was the stock’s ability to break out over the monthly-up spot, then hold the 10-ema on the 15-minute chart when it reset. It also held the monthly-up rotation point.
Trading Palantir Stock
As it pertains to Palantir, this one had a very measured rallied from the May lows, pushing through a number of key moving averages.
We had a very nice three-day dip down to the 10-day moving average and a nice bounce from the lows. That’s why I’m frustrated I missed it; these dips to the 10-day are some of my favorite plays.
In any regard, I’ll be looking for a daily-up rotation over $24.39. It does have the 100-day moving average overhead, so let’s keep that in mind as far as risk goes. But if this one gets “meme’d” it could really fly.
An inside day would be great too, especially if we get the “up” portion of an “inside-and-up” candle on Monday.
Cheers!
Disclaimer: Charts and analysis are for discussion and education purposes only. I am not a financial advisor, do not give financial advice and am not recommending the buying or selling of any security.