Zoom looking for a new ATH
It looks like the market favoured the last earning releases from the company this week and price has increased with volume which is a good indication of bullish momentum kicking in.
On the technical side we have an overall very strong bullish trend that has been under a correction during the past weeks. This corrective period formed a descending wedge pattern on lower volume that just recently was broken out to the upside and then retested. Thus probability is on our side for another bullish leg to play out.
targets here are the next Fibonacci extension levels from previous bull run. This being:
Target1: 1.27 fib extension at the 680$ area.
Target2: 1.618 Fib extension at the 810$ area.
On the technical side we have an overall very strong bullish trend that has been under a correction during the past weeks. This corrective period formed a descending wedge pattern on lower volume that just recently was broken out to the upside and then retested. Thus probability is on our side for another bullish leg to play out.
targets here are the next Fibonacci extension levels from previous bull run. This being:
Target1: 1.27 fib extension at the 680$ area.
Target2: 1.618 Fib extension at the 810$ area.
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