Today’s instrument is the DocuSign Inc. stock traded in the Nasdaq exchange under the ticker DOCU.
If we look at the DOCU chart, we can see it was trading in a downward trend for the past week topping at $255 and after failing to break out it fell initially to the $245 and then being unable to hold on, it fell further below to the $230. The closest support level can be deemed at the $230 price range and the closest overhead resistance the $245. Its last traded price was $233.90.
Today we could expect a move below the support of $230 possibly near the to $226.
If however, it manages to hold above the current price range then a case can be made for moving towards the $245 resistance level.
(Click on image to enlarge)
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