Nov. 21, 2021

My Trade Plan:

  • Close half at stop 1: $184
  • Close remaining at stop 2: $180
  • Exit part of trade at target 1: $200
  • Exit part or remainder of trade at target 2: $210

DDOG Datadog Inc. (DDOG) - Bullseye Pick of the Week

Original Alert went out on November 21, 2021.

Datadog Inc. (DDOG) is a bright spot in the tech sector right now. After strong earnings, the stock has held up well and consolidated around the $190 area for 2 weeks now. I think it is just a matter of time before it eclipses the $200 level. 

My bet is that DDOG has a quick move up above $200 this coming week, or it will begin to break down.  I want to keep a couple of stops on this trade.  The first will be a break below $184, where I plan to stop out of half of my trade.  

The reason is that this is just below the recent 2-week consolidation I just mentioned above.  The next stop would be under $180, which I think would signal a breakdown in the trend.  

Now, there could be some quick spikes down and right back up, so I will be cautious of being “whipsawed” and forced out of the trade at the bottom.

Go to alert