Probable Pull Back. Possible divergence. Borderline overbought with RSI on 80 verses 70.
Price is outside the bollinger bands set on an 80 dma which indicates extreme buying pressure. In the past when DOCU goes over the top band, it pulls back to the safety of the bands. When price is over the bands with a moving average of 80, then price is truly in an uproar. Very bullish. It just doesn't usually last too long and price comes back down.
Price hit long entry level, but is now back below the former cup high. The left side of a cup is the sell side to many and the right side is the buy side. There was some heavy duty buying for sure and price made a very steep climb.
I would wait on this to come back to earth and pick a good long entry level, but we are all different.
Possible bearish divergence on RSI. Some like to double check to see if it is there on weekly. Most use to peaks to draw bearish divergence and the valleys to draw bullish divergence.
MC Mid cup is at 227.48 which is also a source of support. There is a gap up below price with a huge green volume bar and a pocket pivot also lurks there.
No recommendation
Price is outside the bollinger bands set on an 80 dma which indicates extreme buying pressure. In the past when DOCU goes over the top band, it pulls back to the safety of the bands. When price is over the bands with a moving average of 80, then price is truly in an uproar. Very bullish. It just doesn't usually last too long and price comes back down.
Price hit long entry level, but is now back below the former cup high. The left side of a cup is the sell side to many and the right side is the buy side. There was some heavy duty buying for sure and price made a very steep climb.
I would wait on this to come back to earth and pick a good long entry level, but we are all different.
Possible bearish divergence on RSI. Some like to double check to see if it is there on weekly. Most use to peaks to draw bearish divergence and the valleys to draw bullish divergence.
MC Mid cup is at 227.48 which is also a source of support. There is a gap up below price with a huge green volume bar and a pocket pivot also lurks there.
No recommendation
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