DOCUD trade ideas
$DOCU Docusign - Piper Upgrade with $300 Target
DOCU out performed the sector today with the help
of the CEO's appearance on CNBC.
Afterhours- Piper Sandler analyst Rob Owens upgraded
DocuSign to Overweight from Neutral with a $300 price target.
Technically the weekly chart has has managed to hold onto the 20ma as support.
In the coming days we will look for a long with $228 , $232, $240 as potential targets
Buy the dipPrice went back to the same level as it was when the TK cross occurred giving us an opportunity to add to our position
BIG triangle with DocuSign - 46% YOY rev growth!DocuSign, Inc. is an American company that allows organizations to manage electronic agreements. DocuSign offers eSignature, a way to sign electronically on different devices.
DocuSign reported 46% YOY in growth in revenue in Q3 2020. It has a large customer base of 822,000 and is touted as the worlds #1 eSignature solution. Considering the competitive signature market in 2020, this is significant.
The digital signature market is projected to grow from $2.8bn in 2020 to $14.1bn in 2026, according to a report by Research and Markets.
As society becomes increasingly cashless, a move accelerated by CV19, there is a case that all contracts and documents requiring signatures will no longer require paper and pen.
DocuSign has been a massive beneficiary of CV19, benefitting from the surge in home working.
DocuSign has rallied 270% since its March lows, from $76 to $245 today. It has puled back about 15% from its all tom highs in September. Alex Zukin, an analyst at RBC Capital, maintained a Buy rating and set a target of $275 for DocuSign’s share price.
DOCU has been forming a massive triangle pattern since May. After this large period of consolidation, DOCU may be poised for a break out the upside. An ideal, but more risky entry, would be in the range of $227 to $221, the 0.6 and 0.618 fibonacci pullback zone. A less risky entry may be on the break out of the triangle consolidation pattern. The stock has found support, and is currently guarding above its 100 moving average.
DOCU - Quick Opportunity DOCU Signals to go Long:
1) 2 breakout confirmation candles out of the wedge formed
2)RSI starting to trend (>50)
3) MACD just crossed
4) News around increase virus cases play in favor of WFH companies
Entry : 215+
Exit : 245
Note: This stock has a tendency to move fast and then consolidate the gaps for a while so plan your exit accordingly. Do like if you agree :) Always an encouragement for someone who's starting out new on trading and reading charts.
$DOCU - concerningI am already in options here.
I am not a fan of the past few sessions and reviewing stop-loss in case this one turns into a "BABA" cliff dive
$DOCU - its comingriding the wedge.
I think this one will pop this week, if it can avoid any negative news.
Strong technicals and pennant pattern
DOCU wait for break out to get inThis one should yield a very nice long term gain to all those LEAP CALLS, DIAGONAL, CREDIT PUT. I will hold this for at lease 2 months.
Target at ATH
$DOCU Breakout?We might have something here... seems like a broken resistance and a good throwback. Let´s see if we end up with that of it falls below this new support. Target Price around $265, stop loss on $240.
$DOCU - potentialI like the histo and the ATR and not the stochastic.
The $DOCU story fits into stimulus and WFH story. Grabbed options yesterday.
Options will be cheaper EOD today or EOD tomorrow.
DOCU doji at supportslight breakout on DOCU now sitting at new support with a doji. This is a nice spot to add a little position if main breakout was missed.
$DOCU with a bullish outlook project after earnings$DOCU posted its earnings with a positive over reaction following its release with the PEAD placing the stock in Drift B
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Docu Free Package Docu will either crawl up before dropping or even drop now. Looks like the letter is most likely. Remember to buy low and sell high.
Could DocuSign Finally Be Done w/ Its Months Long ConsolidationDocuSign has been consolidating within a $40 range since the beginner of August 2020. The stock price has broken above its resistance level of $230 three times since it reached this resistance level. Every time the stock has hit this ceiling it came back down to its support level of $190.
Now that the stock has broken its resistance level for the 4th time and has closed about it, could this be the end of the consolidation phase? Could the stock now be looking to start moving higher again?
If on Monday's session we can hold the line and close above resistance again, we may go to $252 and then possibly on to $270. And the old resistance will become our new support.
