Duolingo (DUOL) - Bullish Momentum After Breakout Overview: Duol
Duolingo Inc. (NASDAQ: DUOL) is showing strong bullish momentum after breaking above the 50-day Moving Average (blue line) with a significant volume spike. This indicates renewed interest and potential for further upside.
Technical Analysis: Resistance Zone: $360 (recent high). Support Zone: $330 (previous consolidation level). Indicators: Price has crossed above the 50-day Moving Average, signaling potential trend reversal. Strong bullish candle backed by increased volume, confirming the breakout. Volume spike shows growing buyer interest.
Trade Plan: Entry: Consider entering above $352 for confirmation of sustained momentum. Target: Short-Term: $370 Medium-Term: $380-$390 Stop Loss: Place at $340 to limit downside risk.
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