Greetings. I’m slightly bearish on DOCU based on the potential head & shoulders pattern forming on the daily chart. The weekly MACD (not shown) is currently bearish. I also notice bearish divergence on the RSI indicator, which indicates that demand for this asset is waning and the trend may reverse into a bearish trend. Happy Trading!
Looks like a head and shoulder formation if there is a downtrend following the bull flag
kijun-sen breakout, bounce of SMA, stochastic leaves room to run, run to earnings.
DOCU's decline has stalled on previous support after 5 days in decline. Thursdays rally may have been nothing more than a relief bounce, so we await a reclaim of the 7ma. RSi and Stochastic bottoming. PLEASE GIVE US A LIKE IF YOU FIND OUR CONTENT HELPFUL, THANK YOU.
After a rather steep correction, DOCU's signal to long is triggered today: a bullish divergence as well as a morning star (3 candlesticks) formation. I went long as soon as it surpasses the 1st morning star candlestick's body @ 197 with initial stop @ 192 (below today's candle low). Planning to scale out partially @ 215 and then around 229 or trail stops upwards...
DocuSign with a strong uptrend post corona. Respecting its lower support line every time. 2 very bad days give a good chance to go long now possible price target 230-250 Is now at 50sma 4 h Chart Stop loss can be placed at 1 x true average range which is about 7 which means around 190-195 depending on risk level.
Since we crossed the 20 exponential moving average, we have tested it many times, to retreat and continue higher. RSI has stayed above 50, showing no sign of strong selling.
Approach this with care. Medium confidence on the Resistance Line due to a lack of touch-points. Strong level of support, confirmed multiple times over the past 5 months in an uptrend corridor. Ascending Triangle formed within, just broken out. Place a Limit Entry to ensure triangle support confirmation and decrease risk. - Historical Uptrend and All-time...