DOCU trade ideas
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.
DOCU ShortSupply Zone confirmation
Bearish engulfing
Short below last low
Short 277
Stop 293
Target 190
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
I created some tradingview scripts to improve my trading entries:
OBV and OBV SMA comparison;
Williams %R two lines;
Cup and Handle/Possible Pull BackProbable Pull Back. Possible divergence. Borderline overbought with RSI on 80 verses 70.
Price is outside the bollinger bands set on an 80 dma which indicates extreme buying pressure. In the past when DOCU goes over the top band, it pulls back to the safety of the bands. When price is over the bands with a moving average of 80, then price is truly in an uproar. Very bullish. It just doesn't usually last too long and price comes back down.
Price hit long entry level, but is now back below the former cup high. The left side of a cup is the sell side to many and the right side is the buy side. There was some heavy duty buying for sure and price made a very steep climb.
I would wait on this to come back to earth and pick a good long entry level, but we are all different.
Possible bearish divergence on RSI. Some like to double check to see if it is there on weekly. Most use to peaks to draw bearish divergence and the valleys to draw bullish divergence.
MC Mid cup is at 227.48 which is also a source of support. There is a gap up below price with a huge green volume bar and a pocket pivot also lurks there.
No recommendation
Stocks To Watch (Relative Strength Edition)The Market may have some more room to the downside with the longer term uptrend still intact, software names are leading. These names have shown good relative strength and accumulation volume and most are in the growth sector. This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 23 total stocks on this list. Many of these have IPO'd in the last few years and still have a growth story ahead of them. Know your time frame and risk tolerance. Know your earnings dates! I go through these quickly so grab a pencil and paper and jot down the names that look interesting to you and then make the trade your own. Good Luck!
$DOCU with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $DOCU after a Positive under reaction following its earnings release, placing the stock in drift A
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DOCU beautiful moves lately? but where to next? congrats if you bought the dip on DOCU like a mentioned in my last post, this one took off way quicker than expected, but nothing wrong with quick moves :) DOCU has been stuck in the same 100 dollar range for around 12 months now! so i wouldn't expect a lot more upside here, look for dip around 200-215 area. dont get caught holding a bag here! if you found my idea helpful please like and follow <3
I like how $DOCU looks like going fowardI had my $DOCU on my watchlist for a while and I believe this is the time to be bullish on the stock!
Looking at the technical on the daily chart, I can point out the following:
1. The stock has bounce yet again off major support level between 180$-190$,
2. MACD is turning bullish,
3. RSI is in mid range, which I believe its a good indicator when a stock is trending up but does not get overbought,
4. During last week Friday sell off and looking at today's support, the volume of those red candles are lower if you compare the volume on the green candles. This could indicate that there are more buyer the sellers at this prices?
5. More broadly, it seems that some hedge found are investing again in Growth stocks a.k.a. Tech stock. This could be further cathalyst going foward that could push this higher.
6. I see possible level at 198.97, 202.34 and 205.66 in the short term and longer term going back to 230$.
Of course there is always big MACRO risk! To mention a few:
- Rising inflation and increase in 10 years treasury yield,
- Increase in market volatility,
- another rotation out of growth stock into value stock,
- Tax increase
- The bull market will finally be over :(
Do your own DD!
Happy investing!
The digital signature made in the USA start like a rocketThanks to excellent macro data, the digital digital signature made in the USA seems determined to climb with a good leap, a strong rocket start.
The Marketmiracle advisor based on the Mmiracle Viewer indicator gave yesterday an input signal on Docusign at a price of 233 USD with a target of 307 dollars or with a potential increase of 31.62%.
Surely the covid with the various lockdowns have contributed to popularize the systems of digital and electronic signature and this title now that reveals of economic data can draw great benefits, In Europe companies such as Tinexta and Namirial take care of the same sector and the sector is also booming with us.
From the fundamental point of life the company Docusign has several debts but a portentous growth for several years and the analyses predict a continuation in terms of growth.
From the graphical point of view the chart is compatible with the forecast and I expect a price action similar to the one I drew.
We will see in the next few days if the report of Marketmiracle is truthful as it has often proved.
Find the link to access the Marketmiracle signals for free below on this page.
