Docusign Analysis 17.08.2021Hello Traders, here is a full analysis for this asset. The entry will be taken only, if all rules of your trading plan are satisfied.
Therefore I suggest you keep this pair on your watchlist and see if all of your rules are satisfied.
Leave your thoughts in the comment section, I will reply to every single one of them.
P.S. Tell me which asset you want me to break down next and I will cover it in my next analysis
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DocuSign, Inc. Shs Cert Deposito Arg Repr 0.0454545
No trades
Trade ideas
Classic Double TopWhat Is a Double Top?
A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a moderate decline between the two highs. It is confirmed once the asset's price falls below a support level equal to the low between the two prior highs.
What Does A Double Top Tell You?
A double top signals a medium or long-term trend change in an asset class.
A double top is a bearish technical reversal pattern.
It is not as easy to spot as one would think because there needs to be a confirmation with a break below support.
Next Support levels will be
270
261
247
Reference Article:
www.investopedia.com
DOCUAnalysts began to increase the price, so let's assume that the correction ended within wave 4 and wave 5 awaits us. Suppose that wave 3 is already in progress within wave 5, so we will wait for the correction to 264 and holding the level or breakdown of 289, holding and continuing the movement to our goal.
Pay attention also to the presence of the formation of small bearish divergences on the RSI, MFI, which may be just a harbinger of the fact that there should be a small correction. (also that this is the end of growth)
DOCU Basing off the long term rising channel 311.92 is the max level I can see we getting too unless we some how blow through. I see more bearish coming in the near short term but once the drop happens will have to see how it plays out. I have entered shorts and will try to upstate when I take profits.
DOCU Possible Short Back Through Broadening Formation So DOCU recently had a simultaneous break on the quarterly and monthly through $286.51 but I missed the second break out after the first pullback. We have a possible broadening formation though so we may get a short 2-1-2 entry on the daily back to support where we could potentially turn around and go long on the long term. Trigger for the short is below the low of the 1 at $294.21 aiming for $290.50. At that point I'd be looking for another reversal off the support at $286.51 for a long term bullish entry. DO NOT go long right now; that's chasing and we don't do that. The short is pretty aggressive so keep that in mind.
DocuSometimes buying a put at resiatnce is the smarting thing you can do for your money. While hype and excitement is around , the TA is showing 309.85 is very very critical resiatnce. Puts will be cheaper. We did have a breakdown that fakeout upon the confirmed back test as resiatnce and we broke back into the channel. However , her we are again just a few dollars from that same resiatnce line that rejected us last time. Just food for though, still watching that 268 support level once we get rejected again. My insight is 309$-311
DOCU Called for a short up in the 290 range. So far paying out very good. I’m watching this 50 ema on 4hr as support roughly 272. Could come back to back test the patter as resiatnce and move further. If it falls right through then I’ll be looking for my targeted area below and I’ll be really tightening stoploss
US Stock In Play: $DOCU (DocuSign Inc)$DOCU successfully broke beyond its 52-weeks high that was established in early September 2020, attaining a new all time high of $293.65 in its latest market session. The past four weeks of price soar in $DOCU (+22.96%) display a classical double bottom technical breakout from $235 since early June this year.
$DOCU shows that it has strong prospects ahead for the coming H2 and that it's not simply a beneficiary of the COVID-environment. It is one of the few SaaS stocks, that's guiding for solid profits at approximately 17% operating margins. With current price implied volatility remaining 40% below its the peak level in September 2020, $DOCU is poised for further upside with $300 as the next psychological price resistance level.
$DOCU provides cloud based software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements.






















