DocuSign jumped 6% after strong quarterly results

DocuSign (DOCU.US) gained roughly 6% during today’s US trading session after the company delivered strong quarterly results. Second-quarter earnings came in at $0.47 per share, above expectations of $0.39 per share (according to Zacks Consensus Estimate). Revenues amounted to $511.84 million (+50% YoY) and surpassed the consensus estimate by 6.09%. DocuSign also raised its full-year guidance for total revenue, subscription revenue and billings.

Taking a look at the daily chart, DocuSign’s shares are currently testing recent highs near $311. One might spot a double top pattern, which was painted in July and August, but it was followed by a recovery move. Should any deeper pullback occur, the $283 area may be seen as a support level (a local low from mid-August and highs from September 2020). Source: xStation5