Select Page

At last week’s lows shares of DocuSign had retraced 50% of its powerful rally off the March 2020 lows.  Since the September peak the stock has spent nearly the entire last eight months consolidating inside that month’s range.  Has a bottom finally been reached?

DOCU reached deeply oversold levels in early March.  A divergent low is now in place.  

The $187-$189 area is a very solid support zone.  This key area held the August, September, November and March/’21 lows.  After taking out this zone the stock was able to limit further damage.  DOCU is back above this area today.  

A close back below $179.00 would indicate a much more drawn out basing pattern will be needed before DOCU is set for a rebound. 

Earnings are due June 3/PM

No position.