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The first newsletter of the day is centered around the following stocks:
Datadog, Inc. (NASDAQ: DDOG)
DDOG is trading in a pennant pattern with lower highs and higher lows. The stochastic is expanding to the downside, although DDOG formed a bullish hammer reversal candle in April.
On the weekly chart, the stochastic is coming out of a bullish crossover. I'm watching the short-term resistance trendline (in blue), and the monthly imbalance sitting at 117.31-134.72. Should we break above the trendline, the imbalance is likely to fill.
Unless DDOG breaks below 102.86 (monthly resistance-turned support), shorts are tricky. If DDOG breaks below 102.86, then it can push far lower towards the monthly imbalance at 72.67-77.81.
HubSpot, Inc. (NYSE: HUBS)
HUBS has been trading with a series of higher highs and lows since IPO. Following the bear market of 2022, HUBS has been trading in an ascending channel (in dark green).
The monthly stochastic formed a bearish crossover last month for the first time since Jun'24. HUBS has an unfilled monthly imbalance at 682.57-701.49 (original imbalance: 622.38-701.49), and just closed the week below the quarterly support at 622.04. This opens the door for a full retracement to the bottom of the quarterly support range at 514.34, which coincides with a retest of channel support.
The weekly stochastic is coming out of a bullish crossover, but the daily stochastic is coming out of a bearish crossover. With the mixed signals, it's clearer to observe the levels mentioned above.
In short, I'm watching 701.49 to the upside and 514.34 to the downside. If we break below the ascending channel, then I'm watching the monthly support at 431.60-466.11.
Procter & Gamble Company (The) (NYSE: PG)
PG has been trading in a series of higher highs and lows since IPO. The monthly stochastic has been expanding to the downside since a bearish crossover in Oct'24. There are 2 trendlines on the monthly chart - the long-term support trendline (in dark green) and the resistance-turned-support trendline (in red).
The weekly chart is still trying to form a bullish stochastic crossover. That being said, PG managed to form a bullish imbalance on the same timeframe at 160.91-163.41 while breaking out of the short-term resistance trendline (also in red).
The resistance trendline breakout is best seen on the daily timeframe, where PG has been basing over it for the past few days.
I'm watching 171.09-172.84 weekly resistance to the upside, with a stretch target being the daily imbalance at 174.80-175.83. As for the downside, I'm watching the 160.91-163.41 weekly imbalance with a stretch target being 155.40 weekly imbalance/support.
Long-term shorts are only viable if PG breaks down from its long-term support trendline (in dark green). Otherwise, it's likely to form a higher low and head higher with time.
@TigerWire @TigerStars @TigerEvents @CaptainTiger @MillionaireTiger
$Datadog(DDOG)$ $HubSpot(HUBS)$ $Procter & Gamble(PG)$ $SPDR S&P 500 ETF Trust(SPY)$ $Apple(AAPL)$
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