Duolingo - Technical Analysis and Trading Strategy .
Long Position: Enter a long position if the price sustains above $192, which would indicate a potential reversal of the current bearish trend. Target the next resistance at $200, with a stretch goal of $220 if the momentum continues. Place a stop loss at $185 to protect against unforeseen drops.
Short Position: If the price fails to hold the $190 support and moves lower, consider entering a short position. Target the $174 (S2 pivot point) for a potential downside, with a stop loss around $195 to limit the risk.
Given the current market conditions and the company's strong fundamental growth, there is a potential for the stock to test $250 within the next 12 months, representing a significant upside from current levels. However, this is contingent on the market sentiment shifting more favorably towards tech and growth stocks in the upcoming quarters.
Relative Strength Index (RSI) is currently at 44.08, suggesting a neutral market sentiment but leaning towards oversold conditions.
MACD (Moving Average Convergence Divergence) is in a bearish phase, with the MACD line below the signal line, indicating potential further downside.
Stochastic %K is at 19.70, which is near oversold territory, hinting at a possible relief rally or a short-term bullish reversal.
The price recently tested a crucial support level at around $190 and rebounded, which coincides with a historic pivot point. This rebound suggests a potential exhaustion of the selling pressure. If the price can sustain above this level, we might see it target the next resistance near the $200 mark.
Despite the recent market correction, Duolingo has posted impressive revenue growth in its latest quarterly report, surpassing expectations. This fundamental strength could support the technical rebound.
Short Position: If the price fails to hold the $190 support and moves lower, consider entering a short position. Target the $174 (S2 pivot point) for a potential downside, with a stop loss around $195 to limit the risk.
Given the current market conditions and the company's strong fundamental growth, there is a potential for the stock to test $250 within the next 12 months, representing a significant upside from current levels. However, this is contingent on the market sentiment shifting more favorably towards tech and growth stocks in the upcoming quarters.
Relative Strength Index (RSI) is currently at 44.08, suggesting a neutral market sentiment but leaning towards oversold conditions.
MACD (Moving Average Convergence Divergence) is in a bearish phase, with the MACD line below the signal line, indicating potential further downside.
Stochastic %K is at 19.70, which is near oversold territory, hinting at a possible relief rally or a short-term bullish reversal.
The price recently tested a crucial support level at around $190 and rebounded, which coincides with a historic pivot point. This rebound suggests a potential exhaustion of the selling pressure. If the price can sustain above this level, we might see it target the next resistance near the $200 mark.
Despite the recent market correction, Duolingo has posted impressive revenue growth in its latest quarterly report, surpassing expectations. This fundamental strength could support the technical rebound.
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