Today’s instrument is DocuSign Inc.‘s stock traded on the Nasdaq exchange under the ticker DOCU. 

When we look at the DOCU‘s chart, we can see the choppy price action of the past week trading mainly between support of $81 and overhead resistance of $88, without much strength to break past but enough to keep it floating. On June 1st we saw the fall from the $88 level to the low of $81 on June 2nd and then the bounce from the $81 back to the $88 on June 3rd and managed to consolidate and trade sideways during yesterday’s session. It was last found trading at the $84.25 level.

Today we can expect a move towards the $81 support level.

If however, it manages to hold on to the current level then a move towards the $88 can be expected.

(Click on image to enlarge)