Dec. 19 at 4:10 PM
Actionable Trade Alert for
$DOCU:
Market Context:
$DOCU is currently trading at
$69.4. The RSI at 50.12 indicates a neutral stance, suggesting potential for upward movement. The price is above the 30-day moving average (MA30) of 68.07 and the 50-day moving average (MA50) of 68.99, indicating a bullish bias.
Directional Bias: The recent high of
$83.29 within the last 60 days provides a strong resistance level, while the low of
$63.4 offers support. The ATR of 2.8 suggests moderate volatility, allowing for reasonable price movement.
Trade Plan:
- Suggested Entry:
$69.5
- Stop Loss:
$66.5 (approximately 4.3% risk)
- Take Profit Targets:
1.
$73.5 (5.8% gain)
2.
$78.5 (12.9% gain)
3.
$81.5 (17.4% gain)
This trade plan offers a potential ROI exceeding 17% on the third target. Monitor closely for market conditions that may affect price movement.
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