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  • Writer's pictureTLivingstonBlog

Docusign "Signing Up" Well

Docusign ($DOCU) is a stock that may have leadership potential in 2021. There are a few things that stand out to me. First, in our COVID-19 world, legal documents must continue to be signed even if it has to be done remotely. This is where Docusign comes in as it allows businesses to prepare and finalize agreements digitally. Once COVID-19 is behind us, the efficiency of Docusign means it is likely here to stay.

From a technical standpoint, there are few things that look really good to me. First, DOCU more than tripled from the March 2020 lows until mid-July. Since then, it has been consolidating constructively. This base is showing lots of accumulation with very little distribution. When an innovative stock like DOCU emerges from a large base, there is potential for a substantial move higher.

I took a position in Docusign last week with a stop loss below recent lows. If DOCU heads higher, I am looking to add some more shares as it may be "signing up" well as a market leader in 2021.

To learn more about trading, visit my course page.

Full Disclosure: Docusign is a stock I currently own.

Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


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