Hopeful Golden Cross Forms On Datadog's Chart
Portfolio Pulse from Benzinga Insights
A golden cross has formed on Datadog's (NASDAQ:DDOG) chart, which could be bullish for the stock. The golden cross occurs when the 50-day moving average crosses above the 200-day moving average, signaling a potential change in the long-term trend. Datadog is trading around $96.21 at publication time.
June 12, 2023 | 2:49 pm
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Datadog's chart shows a golden cross, which could indicate a bullish trend for the stock. The stock is trading around $96.21.
A golden cross is a technical indicator that occurs when a stock's 50-day moving average crosses above its 200-day moving average. This is generally considered a bullish signal, as it indicates a potential change in the long-term trend. In the case of Datadog, the formation of a golden cross could lead to an increase in the stock price in the short term, as investors may interpret this as a positive sign for the stock's future performance.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100