$DDOG Wedging / Volatility Contraction Pattern (VCP)

DDOG gets an upgrade this morning from DA Davidson to “Buy” driven by strong cloud solutions and expanding security management. That could be a fundamental driver.

On the technical side, DDOG has been basing for about 10 months and has now formed a VCP or Wedging pattern. That is the positive thing on the chart. The negative on the chart is it is below the 40-week MA in yellow and there is a downward sloping 50 DMA, red. Taking all these things into consideration I have an alert set on the upper downward sloping trendline. If it can break that I will look for an entry with a tight stop below the most recent low and just under the 50 DMA. All TBD.
Anmerkung
Not Ready - Situational awareness... Still high on watchlist.
Snapshot
Anmerkung
I went long DDOG 3 days ago when it reversed upward from the chart posted above. I have added two times. Last one @ $120.14 for a full sized position. My average per share price is now 116.57. Let's see what happens.
Snapshot
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Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
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