Dynatrace ( DT) is a new tech name to me, but I have quickly warmed up to its bullish possibilities. Let's check out the charts and indicators.
In this daily bar chart of DT, below, I can see that prices have recently broken out over its February highs. DT trades above a rising 50-day moving average line and above a rising but slower-to-react 200-day moving average line.
The daily On-Balance-Volume (OBV) line shows a rising pattern from November and just made a new high for the move up. A rising OBV line happens when buyers are more aggressive than sellers.
The Moving Average Convergence Divergence (MACD) oscillator is bullish.
In this weekly Japanese candlestick chart of DT, below, I see a classic bottom pattern. Buyers showed strong interest in DT in the $35-$30 area. DT has rallied and now trades above the rising 40-week moving average line. The weekly OBV line has been improving for the past year. The MACD oscillator is bullish.
In this daily Point and Figure chart of DT, below, I can see an upside price target of $53.
In this weekly Point and Figure chart of DT, below, I used a five box reversal filter. Here the software projects an upside price target in the $77 area.
Bottom line strategy: Traders could go long DT around $48. Risk to $44 for now. The $53 area is my first price target with $77 my secondary target.
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