DASH – Your Bullseye Pick of the Week - Bullseye Pick of the Week

Stock up 14%

My Trade Plan Details:

  • DASH July 21 2023 $78 call near $1.80
  • Stop: Close below $70
  • Target 1: $80
  • Target 2: $84

My Reasoning:

This week, I am targeting a stock that is not on the radar of a lot of traders right now, but it is consistently making new 52-week highs as well.

It isn’t an “AI stock,” so you aren’t hearing a lot about them in the news, but they are executing very well on its business model, and funds are slowly accumulating shares on every dip.

The chart pattern looks almost like what we are seeing for SPOT – non-stop bullish accumulation nearly all year long.

This week’s top idea is – DoorDash (DASH)

My plan for DASH this week is to make an initial purchase on a half-sized position today, if I can get an entry near my desired level.

I then want to save room to add to this at a key support level near $73, if it happens to dip in the next few days.

If it continues to fall from there, and the stock closes under $70, then I will stop out for a loss.

My goals on the upside will be $80 and then $84, if this trade works out in my favor.