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DocuSign ($DOCU) Bulls In Control


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DocuSign ($DOCU) Bulls In Control

The next entry in the theme of Corona Virus stocks is DocuSign. Biotech is not the only sector benefitting greatly from the COVID-19 oubreak, software is also making huge gains in some stocks. I am finding new software companies every single day that are making new All Time Highs. $DOCU has been on a monster run lately, lets check out what they do as a company:

DocuSign, Inc.is an American company headquartered inSan Francisco, California that allows organizations to manage electronic agreements. As part of the DocuSign Agreement Cloud, DocuSign offers eSignature, a way tosign electronicallyon different devices. DocuSign claims it has over 475,000 customers and hundreds of millions of users in more than 180 countries.Signatures processed by DocuSign are compliant with the USESIGN Act,and the European UnionseIDASregulation, including EU Advanced and EU Qualified Signatures.

The rally in $DOCU seems to be an ongoing affair, but as always, remains very technical. Lets check out the Daily Elliot Wave view.

DocuSign Elliott Wave Daily View

DocuSign

Medium term term view from 11/20/2018 lows of 35.06. Wave ((1)) was set at 59.62 on 3/15/2019 and wave ((2)) at 43.13 on 8/14/2019. After that, Blue (1) was set at 92.55 on 2/19/2020 and Blue (2) at 64.88 on 3/12/2020. From there $DOCU is in a clear wave (3) of ((3)) advance with the bulls firmly in control. Blue (3) is still underway, with Red 3 expected to form a top in the near term.

In conclusion, this is not a stock for selling, we do not recommend selling at all, since the right side is bullish on daily view. After red 3 finds a top, a buying opportunity with an equal leg pullback in 3,7 or 11 swings may present itself.

Risk Management

Using proper risk management is absolutely essentialwhen trading or investing in a volatile stocks. Elliott Wave counts can evolve quickly, be sure to have your stops in and define your risk when trading.

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ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 42 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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