Stock: DD
Company: DoubleDragon Properties Corp.
Support: 15.76 / 15.49
Resistance: 16.50


After gapping up past DD’s short- and long-term MAs last Monday, profit-taking ensued. This dragged the stock towards its immediate support level of 15.76 and back below its 260-d moving average of 16.39.

While the indicators are still uniformly showing bullishness, the momentum started to taper. The RSI currently has a steep downward bias. The gap between the +DI and -DI narrowed, but the bullish momentum is still relatively strong. The MACD is likewise showing strong buy signs but its histograms have started decreasing.

Meanwhile, the 50-d and 100-d MAs are showing signs of a possible golden cross moving forward.

Recommendation

Buy when support holds.

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