The price of DoorDash stock (DASH) is in the bull trajectory, showing buyers’ accumulation in the past sessions. Moreover, the price action of DASH stock shows that investors showed their interest and persisted in adding long build-ups, and were willing to exceed DASH share price toward $100 soon.
Furthermore, the chart shows a positive outlook and suggests that follow on buying is highly probable, and DASH share price may skyrocket soon. However, DASH stock needs to surpass the immediate hurdle of $90 from where buyers faced rejection and showed a higher low sequence in the past few trading sessions.
DASH stock price is trading above neutrality and trying to surpass the 20-day EMA, creating a hurdle to extend the momentum in the past sessions. Moreover, the trend is strong, and buyers persisted in showing their strength. However, the mighty bears also showed interest, remained solid near the crucial resistance zone of $90.
At press time, the DASH stock price is trading at $80.93 with an intraday drop of 2.47%, showing rejection from the 20-day EMA. Moreover, the trading volume increased by 3.89% to 6.996 Million, and the market cap is $31.83 Billion. Moreover, analysts maintained a buy rating, outperforming with a yearly target price of $95.32.
DoorDash, Inc. designs, develops and operates a food delivery and logistics platform. It serves consumers in the United States, Canada, and Australia. The company was founded by Andy Fang, Tony Xu, Stanley Tang, and Evan Moore on January 12, 2013, and is headquartered in San Francisco, CA.
DASH Stock Price Shows Uptrend on Daily Charts
On the daily charts, the DASH stock price is trading in an uptrend and is above the 100 and 200-day EMAs, but below the 20 day EMA showing that past sessions were bullish.
Recently, DASH share price tried to surpass the resistance zone of $90, but failed due to the weak Q2 2023 performance, which gave sellers an advantage to push DASH toward the support region. The RSI curve stayed near neutrality, showed a bullish divergence, and suggested a positive outlook for the following sessions.
The MACD indicator showed a bullish crossover, forming green bars on the histogram which shows that bulls have remained strong and that DASH stock price may skyrocket soon.
Summary
DASH stock price is in an uptrend and suggests a significant upside above the 20-day EMA, and if the price surpasses the cluster of $90, DASH share price may reach $100 soon. Moreover, the battle will be interesting now, as the bulls are trying to escape the primary hurdle of $85 and are willing to reach $100, whereas sellers are trying to push the price below the 200-day EMA near $75.
Technical Levels
Support Levels: $72 and $65
Resistance Levels: $90 and $100
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/09/16/doordash-nyse-dash-price-prediction-dash-roadmap-to-100/