Stock Of The Day / 12.06.24 / DOCU

12.06.2024 / DOCU

Fundamentals. Positive catalyst after the release of a positive earnings report.

Technical analysis.
Daily chart: not informative. 
Weekly chart: We observe the exit up from two-year accumulation, free zone ahead.
Premarket: Gap Up on increased volume. We mark the premarket high, which coincides with the round level 100.00.
Trading session: The price forms a pullback to the level of 100.00 after a non-pullback growth from the opening of the session. We consider a long trade in continuation of the movement, in case the level holds.

Trading scenario: pullback along the trend to the level 100.00

Entry: 100.66 aggressive entry on the exit up from the range above the level.

Stop: 99.49 we hide it behind the pullback low.

Exit: We observe a pronounced trend movement. Close part of the position on 104.27 after an unsuccessful attempt to update higher high. Close the rest on 106.64 after an unsuccessful attempt to update higher low.

Risk Reward: 1/5
Multiple Time Frame AnalysisstockofthedaySupport and Resistance

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