Here’s the DL on $DV – September 29, 2022
DV SPY
This is Scott with your Chart of the Day. I want to show you a chart that we are paying close attention to at StockMarketMentor.com. In fact, Dan Fitzpatrick has added this to his Active Trade List, it is DoubleVerify ( NYSE: DV ).
Now, if I zoom out here you can see that DV ( NYSE: DV ) IPOed right in the middle of 2021. It was a volatile session and then kind of went down with everything else. But recently DV ( NYSE: DV ) has been printing some higher lows here. Some nice higher lows on the daily chart, and some nice higher lows here, obviously, on the weekly chart.
On the weekly, we are kind of around a cluster of moving averages. And so I like that, we have, technically, still a weekly lower high but we have a higher low as well. On the daily, we are above all the major moving averages. If you can find a stock that is above all the major moving averages when the overall market is making new lows, I think that is a stock that you have got to pay attention to.
I currently don’t have a position in this, I did, I sold it today for a small profit. But I definitely want to get back into the stock if it can make some new highs. There are 2 spots that I am watching for potential buys on DoubleVerify ( NYSE: DV ). The first one is kind of close to this 21-day exponential period moving average.
You can see, it bounced off of there today. It didn’t really do it on much volume but it is also finding support right around this 50-day moving average. Every time, at least for the most part, that it has come down to the 50-day it has held here pretty well. And so, I am either looking for a little pullback buy here or a pullback buy down to that 50-day moving average.
Now, breakout buyers could also look for a pivot right above that 28.20 level, maybe set an alert just below. But as you know, buying breakouts in this market, it’s been tough. So, I think you want to get it close to support and that is where I am looking for a new entry here on DV ( NYSE: DV ).
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