BY LICIA LESLIE
March 20, 2024
Hi Shoppers,
Dynatrace (Ticker: DT) has had quite the sell off, trading down to $45.17 off its high of $61.41 just since February 5th.
The stock looks to be bouncing off my pitchfork support here and yesterday’s action created a bullish engulfing candle which could quite possibly be signaling end to this downtrend:
Both MACD and RSI are turning positive.
Although the market is a bit wide, I like the Apr19 47.50 calls:
As always, wait for a confirmation of the stock trading higher this morning for at least an hour.
I think DT will trade back up to $50.
Use a stop loss of a close below $45.
Trade Review
You had to hop into Tesla (TIcker: TSLA) early as it traded up over ten bucks on Monday. I called $174 as resistance and it stopped at $174.72 on Monday. Next stop is $183.50.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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