DCGO had good catalysts today and offered a very good risk-reward buy point for day trading or for starting a swing trade. If you entered the stock at the start of the session, you probably got stopped out, but with good catalysts behind, you have to be vigilant of a possible good entry during the day.
In the chart image below (2-minute timeframe), you can easily see some selling exhaustion in the form of 2-minute higher lows candles. Buying at the indicated point offered the possibility of making more than a 7% intraday gain.
What were the catalysts? $180 million in new contracts, revenue beat, and 2023 revenue guidance above consensus.
