Datadog (DDOG)
Growth stocks may be struggling, but there are still some hidden gems there.
One of those is today’s Chart of the Week, Datadog (DDOG).
This pick comes from our 2 to 100 Club, which scans the strongest growth industries for the next $100 billion company. We filter those picks to find stocks closest to their 52-week highs and ready for technical breakouts.
DDOG was one of the biggest winners, also showing up in our Follow the Flow scan, which identifies unusually heavy directional options activity.
Add in Datadog’s relative strength right now, and DDOG is a tantalizing trade as long as it hits that 175 level.
Below 175, we are steering clear of it and just watching (too much downside risk).
But above 175, we’re long with a target of 264.
Exponential reward, limited risk, just how we like it.
Til next week, good trading,
JC Parets
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