TI-DD

Stock: DD
Company: DoubleDragon Properties Corp.
Support: 14.00
Resistance: 15.90 / 16.00


For the better part of 2020, DD has been stuck trading at a lower range relative to last year. It was last trading at these prices in 3Q19.

Nevertheless, the past few months cemented the 14.00 level as a strong support which could serve as DD’s base for a bounce back. There was a mild bullish trend last week that could push DD to test, once again, its resistance at 15.90–also its 200-d moving average.

Indicators are showing high buying momentum, but with increasing selling pressure that could soon dominate should DD’s RSI hit the overbought region. At present, RSI is at 66.15.

Recommendation

Buy on pullbacks.

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