Wednesday, May 27, 2020

New Leaders Are Emerging In The Stock Market

DDOG technical stock chart analysis


As the coronavirus continues to destroy the economy, trends have ended and new ones have emerged. In the stock market, there is a new leader: Data Dog ($DDOG) a cloud company. The company dazzled in earnings, which showed a very powerful breakout in its stock chart. Take a look at the RSI indicator above, showing pure strength, and a beautiful gap up making new all-time highs. This is not the only cloud company that broke out as Twillo ($TWLO) and Fastly ($FSLY) broke out as well.

The cleaner chart, in my opinion, is $DDOG, which I believe should be bought on weakness, look for this stock to continue higher in the upcoming months.