Docusign buoyed by pivotal support - Analysis - 12-09-2022

Docusign's stock (DOCU) rose in the last session after the electronic forecasting company reported quarterly profits and forecasts that beat expectations, with the stock spiking 10.51%, or 6.09 points, settling at 64.04, with trading volumes surpassing 35 million shares, above 10-day averages of 7.5 million shares. 

Technically, the stock rose after leaning on the pivotal support of 55.95, with positive signals from the RSI after reaching oversold levels, touching the resistance of the 50-day SMA, amid the dominance of the main downward trend in the medium and short terms. 

Therefore we expect the stock to return lower and target the pivotal support of 55.95, provided the resistance of 77.20 holds on.

Open Live Trading Account

Expected trend for today: Bearish