On your weekend report you said that you think DOCN has put in a bottom.
Does this mean it's ok to buy for a longer term entry or do wait until it recovers the 200 and 50 DMA?
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I do think DOCN has put in a bottom. It has stopped going down, and has advanced three consecutive weeks. It looks like it is forming a double bottom base.
If you want to own DOCN then buy a "probe" position of 3%-5% and see if it works for you. If it does work, then add as it trades through its moving averages. As always use a 5% stop-loss. Please remember that this is an art and not science.
DOCN has to trade through its moving averages at the $71.50 level. They have earnings scheduled for February 24. I expect it to remain strong after the results from DDOG this morning.
I hope this answers your questions.
Regards,
Marty
