A big base for DigitalOcean (DOCN)

DigitalOcean (DOCN): Big base breakout potential toward 62-63 and 76-77

We like the technical setup for DigitalOcean (DOCN). After progressing through its typical post-IPO lifecycle—early euphoria, steep decline, and multi-year base building—the stock now appears to be emerging from a large 2022–2025 base with substantial upside potential.

DOCN is attempting a breakout from a mid 2022 into late 2025 big base. Holding the 3-year+ pattern neckline and chart support from 45-44 down to 42.60 would favor upside beyond the February 2025 and July 2023 highs at 47.02 and 51.69 toward 62-63 (38.2% retracement of the November 2021 into November 2023 decline) and 76-77 (pattern count and 50% retracement).

If DOCN struggles and fails to hold the 45-42.60 range, the next support is 37.40-36.78 (chart level plus the 13- and 200-week moving averages).

Chart 1: DigitalOcean (DOCN)