Will DocuSign Earnings Spark a New Uptrend?
DOCU stock price spiked 6.04%, showing bullish momentum. However, the stock price has been range-bound for a long time. At press time, the stock breached the 50 and 200 EMAs.
DocuSign, Inc. (DOCU), a software-as-a-service (SaaS) company that provides cloud-based electronic signature solutions, reported its fiscal second-quarter earnings on Thursday. The company posted a net income of $7.4 Million, or 4 cents per share, beating Wall Street expectations.
According to Zacks Investment Research, nine analysts had predicted an average earnings per share of 65 cents. DocuSign also provided guidance for the current and the full year. The company expects to generate revenue between $687 Million and $691 Million in the third quarter and between $2.73 Billion and $2.74 Billion in the fiscal year.
DOCU stock price has seen a slight increase of about 6.04% over the past week and a modest gain of 3.04% over the past month. However, the stock has not performed well over the longer term, as it fell by about 18.94% over the past three months, and by about 2.94% over the past six months. The stock’s performance throughout the year has also been disappointing, with a year-to-date decline of about 7.63%.
How DOCU Stock Price is Performing on the 1-D Timeframe: Technical Analysis
Currently, DocuSign, Inc. (NASDAQ: DOCU) stock is trading above the 50 and 100-day EMAs (Exponential moving averages), which are supporting the price momentum.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, DOCU price is expected to move upwards, giving bullish views over the daily time frame chart.
The current value of RSI is 59.55 points. The 14 SMA is above the median line at 46.05 points which indicates that the DOCU stock is bullish.
The MACD line at 0.2210 and the signal line at -0.4298 are above the zero line. A bullish crossover is observed in the MACD which signals strength in the momentum of the DocuSign stock price.
Summary
The technical indicators of DocuSign, Inc. (NASDAQ: DOCU) supports the bullish trend. The MACD, RSI, and EMA show positive signs and suggest that the DocuSign stock price may continue to rise. The price action indicates that the investors and traders are optimistic about the 1-Day time frame. The price action reflects a bullish outlook at the moment. However, investors and traders should wait for a proper setup for the next move and avoid FOMO.
Technical Levels
- Support Levels: $46.80 and $43.30, where it could bounce back or stabilize.
- Resistance Levels: $57.02 and $63.88, where it could reverse or consolidate.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
