DOCU Heavy Support
Docusign has been trading rangebound for over 6 months now. It is back at heavy support and had a small bounce up yesterday. While it is fine to add a long position at this support, the market pressure on the tech growth stocks is pointing to a break below this support level which might result in a $20-40 move down leading to a potential short position below this support level. If it does hold the level and reverses, we can expect a $20+ move up.
DOCU options don't look too ideal for a short put or strangle play but are decent for direction verticals but spreads are still pretty wide due to low options volume.
DOCU options don't look too ideal for a short put or strangle play but are decent for direction verticals but spreads are still pretty wide due to low options volume.
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