Time to give DoubleVerify a second look. $DV – October 6, 2022
DV
This is Scott with your Chart of the Day. I’m thinking it’s time to give DoubleVerify ( NYSE: DV ) another look here. This is actually a stock that Dan Fitzpatrick has on our Active Trade List, and I have been trading it actively. In fact, I am not in this stock right now but I am watching it as it is looking pretty good.
As you can see, right here right now, it is above all the major moving averages. It is above the 8-day, the 21-day, the 50-day, the 100 EMA, and the 200-day. If I zoom out, the trend since May has been up. It hit a low here in May, I can draw this nice upward-sloping trendline, you can see it’s held pretty darn good so far. So we have a clear uptrend, at least in the near term, on this chart.
Now, if I zoom out you can see, this chart doesn’t really have a lot of trading history but it’s getting to a pretty key level here at this $30.00 zone. You can see how back here in January, February, and March 30.00 was a pretty important level. It tried to get above it a few times, but it couldn’t and that is when it started to break down. And so we are coming back near that $30.00 level again.
I think if this stock can get above and stay above $30.00, potentially you get a retest of 33.00 and then maybe on to 40.00. So this is definitely a stock that I think you should keep on your watch list. And even if you are just casually trading a small bit I think you want to use that 8-day or 21-day EMA as your stop loss level. As long as it can trend above there I think you are good to go.
This is definitely a stock I am going to try to get back into if it offers me a nice clean entry. So it’s one I wanted to share with you and something we are watching over at StockMarketMentor.com.
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