Software Leader Setting up Explosive Breakout to Highs
Datadog (DDOG) shares continue to build energy in a very explosive coiled pattern on multiple timeframes with the weekly chart forming a 6 month long inverted H&S that already saw MACD cross higher the past month and points to a move to 150 and beyond likely into early 2025. Short term the bull flag forming on the daily chart is clearing monthly value and showing relative strength this week in the software sector. While a pullback to the 125 level again is not out of the question it would be a nice dip buy or continuation above 130 should target 145-150 into year end. Put sales have been popular for months in the stock and last week saw 3000 March $155 calls buy for $4.24 as Dec calls adjusted out.