DOORDASH INC - A (NASDAQ:DASH) Technical Analysis observations.

Our stockscreener has identified a possible breakout setup on DOORDASH INC - A (NASDAQ:DASH). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:DASH for potential opportunities.

What is the technical picture of NASDAQ:DASH telling us.

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Overall DASH gets a technical rating of 10 out of 10. Both in the recent history as in the last year, DASH has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that DASH is one of the better performing stocks in the market, outperforming 95% of all stocks. We also observe that the gains produced by DASH over the past year are nicely spread over this period.
• DASH is one of the better performing stocks in the Hotels, Restaurants & Leisure industry, it outperforms 92% of 137 stocks in the same industry.
• DASH is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month DASH has a been trading in the 92.56 - 103.98 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

For an up to date full technical analysis you can check the technical report of DASH

Why is NASDAQ:DASH a setup?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NASDAQ:DASH has a 8 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, DASH also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 98.73, a Stop Loss order could be placed below this zone.

Trading setups like NASDAQ:DASH

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.