Chart of the Week: Dynatrace
Hello everyone. Happy Wednesday. It’s time for our chart of the week, and we’re gonna focus in on a new name called Dynatrace. DT is the symbol. Let’s take a look at this one. It’s been a real strong name for the past few months, and I think it’s got some more upside left to go.
I guess you could call this one Gap City, right? You’ve got some gaps in the chart here right there. Another gap here from earnings last week. And we have some other gaps in the chart over here which got filled. Another gap got filled. So eventually, it’s going to fill to the downside, but for now I think the trend is up on Dynatrace.
Nice series of higher highs and higher lows. Of course that is a textbook definition of an uptrend. You can see that that channel is bullish with higher highs, higher lows.
We have only tested the upper side of the channel once or twice here. And I think that this time around, especially with this gap here – this breakaway gap – and follow through here, is gonna make a run up towards the $65-70 area.
We saw some really strong volume on the stock on a couple of gap days over here. Moderate volume over here the last time it gapped up.
MACD is on a buy signal over here.
And we do have good, strong RSI here, too.
We are modestly overbought here right now. But of course, overbought doesn’t necessarily mean that you have to sell here. It’s not a signal. It is simply a condition.
But take a look at Dynatrace over here; DT. Again, I think it’s got some room to run to bid up to about $65-70 over the next several weeks.
So, DC is the symbol. Thanks so much for watching everyone.
