Here’s your trade on Dynatrace $DT – July 6, 2023
This is Scott with your Chart of the Day. I want to take a look at Dynatrace ( NYSE: DT ).
Now, Dynatrace ( NYSE: DT ) has been grinding sideways despite some market volatility. Despite the market pulling back and really kind of chopping around Dynatrace ( NYSE: DT ) has built this really nice sideways space of consolidation since the beginning of June, the end of May time, so it’s been going sideways for about a month.
We have clear support right around that 21-day exponential period moving average. And if I draw a little line here, you can see we have a little bit of a downward-sloping trendline and resistance. It’s not perfect but you kind of get the idea. Clear resistance right there and you can see that we are just, kind of, tucked in, pinching right around the 8 and 21-day EMA.
And so, what I want to see from Dynatrace ( NYSE: DT ) is a breakthrough and out of this level, coming on higher than average volume. So I think it makes sense to set an alert on Dynatrace ( NYSE: DT ) right around that 51.85 level. That will tell you that we are, potentially, ready to move out of this base.
Now, you could potentially get some started around these moving averages, maybe 1 or 2 shares just to keep it on your radar. And then add when you have confirmation of a break higher and if we do see another move up in the market. So that’s the levels that I am watching right now on Dynatrace ( NYSE: DT ).
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