10/11/20
Blue Chip Daily Chart of the Week:
Docusign, DOCU
Close: $225.60
Stop level for position traders and investors: $189.37
please see chart analysis below
- Docusign, DOCU is in a technical uptrend above the rising 20, 50, 100 and 200-day moving averages, indicating an uptrend on multiple time frames.
- DOCU recently corrected 35.4% off all-time highs and has been consolidating between 190-220 for the past 3 months.
- DOCU made it’s highest weekly close on record on Friday, and it’s first weekly close over the 220 consolidation range.
- On any pullbacks, 220, 200 and 190 are key support levels.
- Disclosure: I am currently long DOCU.
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Have a great week,
Larry Tentarelli
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