DynaTrace is setting up into Earnings $DT – October 29, 2024
This is Scott McGregor at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. I want to take a look at Dynatrace ( NYSE: DT ).
Dynatrace ( NYSE: DT ) does have earnings coming up in a couple of days. It’s setting up right around that 55.56 level. I have it laid out here on the chart and we can see, for the past couple of months and even year this level has been a pretty clear area of resistance that the stock has really not been able to hold above for too long.
In fact, even if I zoom out here and look all the way back to 2021, this level around 55.56 was a level that the stock really challenged a handful of times before ultimately breaking out. And so I think if Dynatrace ( NYSE: DT ) does have a positive earnings report it has an opportunity to get above that level and ideally stay above that level and potentially get on a nice little run.
I wouldn’t do anything with Dynatrace ( NYSE: DT ) right here. But I would definitely keep it on a watch list and look for a strong move and a close above that 55.56 zone. And if it can do that, I think this could turn into a pretty good momentum trade as long as we continue to see strength in the software sector.
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