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.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
Is a crackdown on the cryptocurrency market the outlier that stock traders didn't see coming because they were focused on inflation and interest rates?
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.