- Dynatrace Stock gained 10% on a monthly basis and is trading near yearly high.
- DT Stock price displayed a golden EMA crossover.
- Dynatrace Inc (NYSE: DT) to quarterly earnings scheduled on May 17, 2023.
Dynatrace Stock Price gained 10% on a monthly basis and formed a highly bullish pattern. It has performed well in the past few months and generated decent returns for the long-term investors.
DT Stock displayed a golden EMA crossover, and prices sustained above 50 and 200-day EMA. It indicates the positional trend is in the upward direction, and buyers are dominating at the current levels.
Dynatrace Inc (NYSE: DT) to release the quarterly earnings on May 17, 2023. Market Analysts estimated an EPS of $0.222, and revenue estimates are $305.477 Million. If the company succeeds in meeting the estimates, then the probability of hitting the fresh high will increase. Else if the company disappoints in earnings, then it might face rejection and retrace back to the EMAs.
Dynatrace Stock Price closed the previous session at $46.58 with an intraday decline of -0.81%. The market capitalization stands at $13.46 Billion. At the beginning of February, DT Stock price shot up 15% on a single day due to the previous quarter’s results.
It gained positive momentum and hit a swing high at $48.00. Later, buyers tried to hold the higher levels to create the fresh 52-week high. Sadly it got rejected, and prices took the opposite direction.
Will Dynatrace Stock hit 52 week high ahead of earnings
Dynatrace Stock Price faced a hurdle at $48.00 and began to decline by forming lower lows. It eroded the returns generated in previous earnings. DT stock downfall halted near $37.00, and the price formed a Doji candle.
Later, slowly and steady buyers came forward, and prices began to rise. Meanwhile, it consolidated for a few weeks in a narrow range which can be interpreted as short-term base formation. Recently, prices broke out of the higher range and expanded upward.
The technical analysis suggests Till the price sustains above $40.00, and short-term correction will have a high probability of bouncing back. However, the earnings are scheduled for next week, which might also impact the prices and decide the direction of the coming few months.
DT Stock Price Prepares for the next phase of the Rally
DT Stock price is up by 5% approx in the current week and succeeded in breaking out of the previous week’s high. However, the next phase of the rally in Dynatrace stock will be visible after the breakout of the $50.00 hurdle.
The broader market index Dow Jones, Nasdaq, and S&P 500 is also trading near crucial resistance. If the broader market performs, then it might positively impact the sentiment as well the prices of DT stock.
The technical indicators like MACD had generated a positive crossover. It indicates bullish momentum is likely to continue in the coming days. The RSI at 70 denotes prices reached the overbought zone, and short-term correction may trigger anytime.
Conclusion
Dynatrace Stock price gained 10% on a monthly basis and is approaching a 52-week high. However, the quarterly earnings are scheduled on May 17, 2023, which might increase the short-term volatility. If NYSE: DT succeeds in meeting the analyst estimate, then the stock may hit a fresh 52-week high. Else if it rejects, then DT stock will retrace downward and try to test EMAs.
Technical levels
Resistance levels : $47.00 and $50.00
Support levels : $40.00 and $37.00
Disclaimer
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