DASH: Doordash delivers a steaming cup of coffee!
Updated
Cup and handle is forming on Doordash's daily chart.
One can spot the declining volume on handle formation and higher volume on the breakout.
In combination with the close above 50 day MA that delivers a strong signal to the upside. The depth of the cup is about 25% or $30, which means we could see the price reaching $180.
Let me know if you have a similar view. Likes and comments are welcome!
One can spot the declining volume on handle formation and higher volume on the breakout.
In combination with the close above 50 day MA that delivers a strong signal to the upside. The depth of the cup is about 25% or $30, which means we could see the price reaching $180.
Let me know if you have a similar view. Likes and comments are welcome!
Note
Retest of support around $150 and up we go?Note
Many have probably been disappointed (including myself!) with the price action today reacting to the news. If that was the retest of $150 I was expecting - that was a pretty violent one!Based on the chart $149-$150 is an important level of the immediate support that needs to hold in order to propel the stick further.
We shall see tomorrow and let the price action give us further clues. Is that a total collapse and invalidation of the idea or just a temporary glitch?
Share your thoughts!
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