DocuSign falling more than 30%DocuSign's price plummeted more than 30%, after publishing Q3 results. Docu posted beter than expected Q3 results, but the CEO said that the pandemic boom appears to dissipate. The company’s billings and revenue forecast missed expectations. Right now the price is back to 2020 June levels..
DocuSign, Inc. Shs Cert Deposito Arg Repr 0.0454545
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Earnings 12-2 AMCThe Evening star is a bearish candle pattern. This one is an evening doji star. The performance of this star as a bearish reversal is not great in a bull market, but you can usually expect a really bad red candle for at least the next day, even in a bull market. Whether the downtrend continues is up to Mr. Market. This is not a common candlestick pattern. It iss not seen on a regular basis like Haramis and Engulfing candles.
The evening star is a 3 candle pattern and is preceded by a decent sized green candle body. It is followed by a decent size red candle and the evening star is above both of these candles.
DOCU is being rejected on each rally up as it pushes to go higher. The top is not a pretty site.
DOCU has been unable to surpass former highs and price seems to lose momentum after each attempt to go up.
Negative volume remains high for DOCU showing interest. Short interest is around 3.65% with 3.3 days to cover.
No recommendation.
Docusign double topThese covid stocks will pull back in the next couple of weeks in sympathy with Pton guidance announcement.
Docu fell significantly Friday but bounced off fibonacci support at 264.
Our trendline now aligns with that fibonacci support at 264 so a drop beneath that number would be a break beneath 2 crucial supports. Friday closed on high selling volume, let's see if it was an over reaction to pton news or is there some follow through.
Short entry
263
stop loss 264.50
Target 203 (Gap close)
Cup and HandleCup and handle pattern but also see an ABC bullish pattern and C is marked.
Price went below bollinger band set on 80 and was also oversold at that juncture. If price is above the bands on this setting it is usually overbought and vice versa. Price eventually returns to the bands.
Monthly candle is a green long legged doji so indeterminate.
Mid cup can be a strong level of support if all else fails. The handle low can also be support. Mid cup is 227.48 Handle low is 236.10 and C is 241.45 and all can serve as support.
Negative volume had slumped recently but there is a smart money footprint, a pocket pivot, below price (green triangle)
Very bearish string of red candles coming down but sometimes this can flush out sellers. When most are gone, buyers can appear.
Bullish harami today but needs confirmation. Price is under the 50 and the 20 and teetering on the 200. The 200 SMA continues to slope up.
No recommendation.
Awaiting Clear confirmationMy theory on this stock is as follows
- strong buy rated stock with a long term positive outlook
- clear channel boundaries that have been respected excluding a large sell off
- Evidence it is bouncing off the previous range before the sell off
- Last weeks candle and hopefully this weeks candle show a clear indecision in the market (hammer pin bar or something similar) alongside last weeks candle would be fantastic.
My bias would be to go long.
If your view is long term my theory is this trade will be correct.
$DOCU with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $DOCU after a Negative Under reaction following its earnings release placing the stock in drift A.
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