RectangleDOCU seems to be giving it all she has the break out of the rectangle but not quite there yet. Volume spike noted around MR (Mid rectangle) recently.
NV and OBV are both high and short interest is 4.36% depending on where you look..
Obvious R above price and rectangle is quite wide. The support of the rectangle looks quite strong. If price breaks up over 246 in a clear uptrend, targets above are listed. If DOCU breaks support, then those targets are listed underneath. Some use MR as a stop whichever way she goes..
A Rectangle is a continuation pattern that forms as a trading range during a pause in the trend. The pattern is easily identifiable by two comparable highs and two comparable lows. The highs and lows can be connected to form two parallel lines that make up the top and bottom of a rectangle. Rectangles are sometimes referred to as trading ranges, consolidation zones or congestion areas.
There are many similarities between the rectangle and the symmetrical triangle. While both are usually continuation patterns, they can also mark trend significant tops and bottoms. As with the symmetrical triangle, the rectangle pattern is not complete until a breakout has occurred. Sometimes clues can be found, but the direction of the breakout is usually not determinable beforehand.
Not a recommendation
