DOCN Bottom`

Feb 10, 2022 08:25 AM 0 Answers
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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?


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.



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