Datadog Inc Stock Forecast
Datadog Inc stock upgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The Datadog Inc stock price fell by -0.759% on the last day (Thursday, 2nd May 2024) from $126.42 to $125.46. During the last trading day the stock fluctuated 3.20% from a day low at $124.60 to a day high of $128.59. The price has been going up and down for this period, and there has been a 0.35% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 3 million shares were bought and sold for approximately $331.70 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.75% during the next 3 months and, with a 90% probability hold a price between $111.33 and $124.80 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
DDOG Signals & Forecast
The Datadog Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $127.17. On a fall, the stock will find some support from the long-term average at approximately $124.51. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -4.56%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Friday, April 26, 2024 and based on theory for this formation the price should fall by -12.21% to $110.15 within 11 trading days since signal was issued (Friday, May 03, 2024).
Support, Risk & Stop-loss for Datadog Inc stock
Datadog Inc finds support from accumulated volume at $124.59 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.99 (3.20%) between high and low. For the last week, the stock has had daily average volatility of 3.65%.
Our recommended stop-loss: $118.54 (-5.52%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (DDOG) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Datadog Inc to open at $126.22, and during the day (based on 14 day Average True Range), to move between $120.66 and $130.26, which gives a possible trading interval of +/-$4.80 (+/-3.83%) up or down from last closing price. If Datadog Inc takes out the full calculated possible swing range there will be an estimated 7.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $124.59 (0.69%) than the resistance at $131.45 (4.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Datadog Inc will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.340. We will update the financials statements for Datadog Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.88% in the first trading day after earnings release.
Is Datadog Inc stock A Buy?
Datadog Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.415 Hold/Accumulate Upgraded
Predicted Opening Price for Datadog Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $126.22 ( 0.603%) | $125.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DDOG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 130.21 | 3.78 % | |
| R2 | 128.68 | 2.57 % | ||
| R1 | 127.74 | 1.82 % | ||
| Current price: | 125.46 | |||
| Support | S1 | 124.69 | -0.612 % | |
| S2 | 123.75 | -1.36 % | ||
| S3 | 122.23 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 134.85 | 7.48 % | |
| R2 | 131.68 | 4.96 % | ||
| R1 | 131.45 | 4.77 % | ||
| Current price | 125.46 | |||
| Support | S1 | 124.59 | -0.693% | |
| S2 | 123.53 | -1.54% | ||
| S3 | 120.42 | -4.02% |
FAQ
Click here for our free guide on how to buy Datadog Inc Stock.
