Nov. 13 at 1:51 AM
$DOCU is currently trading at
$68.85, below its 30-day moving average (MA30) of
$70.19 and 50-day moving average (MA50) of
$74.53, indicating bearish momentum. The RSI at 42.92 suggests that the stock is nearing oversold territory, which could indicate a potential reversal or bounce. The recent 60-day high of
$86.65 and low of
$66.57 establishes a range that the stock is currently testing, as it is close to the low end.
For a trade plan, consider entering a long position around
$67.00, slightly above the 60D low, to capitalize on a potential bounce. Set a stop loss at
$65.50 to manage risk. For profit targets, aim for
$72.00, near the MA30, and
$75.00, approaching the MA50. This strategy allows for a favorable risk-reward ratio while remaining mindful of the current bearish trend.
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