DOCN Technical Analysis - DIGITALOCEAN HOLDINGS INC

Technical Rating and Analysis

We assign a technical rating of 8 out of 10 to DOCN. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, DOCN is only an average performer.

The long and short term trends are both positive. This is looking good!

In the last month DOCN has a been trading in the 29.62 - 36.95 range, which is quite wide. It is currently trading near the high of this range.

DOCN has an average volume of 2602410 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

When compared to the yearly performance of all other stocks, DOCN outperforms 64% of them, which is more or less in line with the market.

DOCN is part of the IT Services industry. There are 85 other stocks in this industry, DOCN did better than 58% of them.

DOCN is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so DOCN is lagging the market.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

DIGITALOCEAN HOLDINGS INC / DOCN Weekly stock chart

DIGITALOCEAN HOLDINGS INC / DOCN Daily stock chart

Setup Rating and Analysis

Although DOCN has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

25.65

36.94

2 important support areas can be observed.

A support zone ranging from 30.76 to 31.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 25.91 to 26.08. This zone is formed by a combination of multiple trend lines in multiple time frames.

When analyzing the resistance we notice one important area.

Resistance @36.57 from a horizontal line in the daily time frame.

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What is Support and Resistance

Support and Resistance indicators

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for DOCN is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for DOCN is up.
ChartMill Relative Strength	64.46	NEUTRAL	DOCN is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of DOCN is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of DOCN is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of DOCN is above a declining SMA(200).
Relative Strength Index/RSI (14)	63.85	NEUTRAL	The RSI value for DOCN is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.36	POSITIVE	The MACD value suggests DOCN has a positive trend.
Stochastics (14,3)	84.58	OVERBOUGHT	The high Stochastics value suggests DOCN may be overbought.
Average True Range in percent/ATR (20)	3.69	MEDIUM VOLATILITY	The ATR as a percentage value for DOCN suggests some volalility.
Average Directional Index/ADX (14)	18.56	NEGATIVE	The low ADX value for DOCN suggests a weak or negative trend.