m Heavy support 396.39
Most certianly slept on ZM dip to 366 as that would have been a great long entry.
396.39 is heavy support dating back to mid September and is also very close to the .786 retracement level from the most recent high low swing from November 6th to November 10th. (I am using this swing as it falls in line with the chart and previous heavy support dating back to September as mentioned)
Again news is the key here, as this stock swings heavy based on headlines. Recent article claims covid numbers again on the rise (source Investing.com)
Virus surge
The number of new cases across the U.S. rose on Friday to a daily record of over 177,000, the fourth straight day an all-time high was set, according to a Reuters tally of figures from U.S. public health agencies.
The number of COVID-19 patients in U.S. hospitals rose to an all-time high 68,141 on Friday.
Governors in several states, including California, Oregon and Washington have urged residents to avoid travelling out of state, amid concerns that the coming holiday travel season would accelerate already alarming spikes in infections and hospitalizations.
Since the pandemic began, the virus has infected 10,690,665 people in the U.S., killing 243,580 of them, according to a Reuters tally.
Stock dropped tremendously based on the vaccine news hence the dip to 366 area.
As you can see on the chart ZM has been following a down trend since its peak October 19th playing in the channel between the red and green trend lines. I am looking for a break above the green, some consolidation in the highlighted area before breaking above the white line and breaking its down trend.
This stock moves well on news, Earnings coming up on December 4th, and covid fear I would expect this stock to run up fairly decent as long as we respect the levels. A break below the 396 are should be short lived however it will take some conformation to ensure a safe entry.
My personal opinion is we are very near 450 leading into earnings. If the 400 area is respected I will certainly be taking some 450 calls 2-3 weeks out for expiration.
Information below provided by Barchart.
14 Day RSI at 80% 989.23
970.65 Price Crosses 9-40 Day Moving Average
944.60 Price Crosses 9-18 Day Moving Average
14 Day RSI at 70% 696.54
1-Month High 588.84
13-Week High 588.84
52-Week High 588.84
516.34 14-3 Day Raw Stochastic at 80%
513.19 Price Crosses 9 Day Moving Average Stalls
503.82 38.2% Retracement From 4 Week High
497.59 14-3 Day Raw Stochastic at 70%
492.12 3-10-16 Day MACD Moving Average Stalls
486.34 Price Crosses 40 Day Moving Average
477.56 50% Retracement From 4 Week High/Low
469.14 Price Crosses 18 Day Moving Average
468.47 Price Crosses 40 Day Moving Average Stalls
462.40 14 Day RSI at 50%
460.07 14-3 Day Raw Stochastic at 50%
456.50 38.2% Retracement From 13 Week High
451.51 Price Crosses 18 Day Moving Average Stalls
451.30 38.2% Retracement From 4 Week Low
Pivot Point 2nd Level Resistance 441.24
439.42 Price Crosses 9 Day Moving Average
438.40 14 Day %k Stochastic Stalls
Previous Close 428.64 Previous Close
High 428.47 High
422.55 14-3 Day Raw Stochastic at 30%
Pivot Point 1st Resistance Point 422.41
415.62 50% Retracement From 13 Week High/Low
409.64 Pivot Point
403.80 14-3 Day Raw Stochastic at 20%
Last 403.58 Last
Low 396.87 Low
Pivot Point 1st Support Point 390.81
387.59 38.2% Retracement From 52 Week High
380.65 14 Day %d Stochastic Stalls
Pivot Point 2nd Support Point 378.04
374.74 38.2% Retracement From 13 Week Low
369.24 3-10 Day MACD Oscillator Stalls
1-Month Low 366.28
325.43 50% Retracement From 52 Week High/Low
396.39 is heavy support dating back to mid September and is also very close to the .786 retracement level from the most recent high low swing from November 6th to November 10th. (I am using this swing as it falls in line with the chart and previous heavy support dating back to September as mentioned)
Again news is the key here, as this stock swings heavy based on headlines. Recent article claims covid numbers again on the rise (source Investing.com)
Virus surge
The number of new cases across the U.S. rose on Friday to a daily record of over 177,000, the fourth straight day an all-time high was set, according to a Reuters tally of figures from U.S. public health agencies.
The number of COVID-19 patients in U.S. hospitals rose to an all-time high 68,141 on Friday.
Governors in several states, including California, Oregon and Washington have urged residents to avoid travelling out of state, amid concerns that the coming holiday travel season would accelerate already alarming spikes in infections and hospitalizations.
Since the pandemic began, the virus has infected 10,690,665 people in the U.S., killing 243,580 of them, according to a Reuters tally.
Stock dropped tremendously based on the vaccine news hence the dip to 366 area.
As you can see on the chart ZM has been following a down trend since its peak October 19th playing in the channel between the red and green trend lines. I am looking for a break above the green, some consolidation in the highlighted area before breaking above the white line and breaking its down trend.
This stock moves well on news, Earnings coming up on December 4th, and covid fear I would expect this stock to run up fairly decent as long as we respect the levels. A break below the 396 are should be short lived however it will take some conformation to ensure a safe entry.
My personal opinion is we are very near 450 leading into earnings. If the 400 area is respected I will certainly be taking some 450 calls 2-3 weeks out for expiration.
Information below provided by Barchart.
14 Day RSI at 80% 989.23
970.65 Price Crosses 9-40 Day Moving Average
944.60 Price Crosses 9-18 Day Moving Average
14 Day RSI at 70% 696.54
1-Month High 588.84
13-Week High 588.84
52-Week High 588.84
516.34 14-3 Day Raw Stochastic at 80%
513.19 Price Crosses 9 Day Moving Average Stalls
503.82 38.2% Retracement From 4 Week High
497.59 14-3 Day Raw Stochastic at 70%
492.12 3-10-16 Day MACD Moving Average Stalls
486.34 Price Crosses 40 Day Moving Average
477.56 50% Retracement From 4 Week High/Low
469.14 Price Crosses 18 Day Moving Average
468.47 Price Crosses 40 Day Moving Average Stalls
462.40 14 Day RSI at 50%
460.07 14-3 Day Raw Stochastic at 50%
456.50 38.2% Retracement From 13 Week High
451.51 Price Crosses 18 Day Moving Average Stalls
451.30 38.2% Retracement From 4 Week Low
Pivot Point 2nd Level Resistance 441.24
439.42 Price Crosses 9 Day Moving Average
438.40 14 Day %k Stochastic Stalls
Previous Close 428.64 Previous Close
High 428.47 High
422.55 14-3 Day Raw Stochastic at 30%
Pivot Point 1st Resistance Point 422.41
415.62 50% Retracement From 13 Week High/Low
409.64 Pivot Point
403.80 14-3 Day Raw Stochastic at 20%
Last 403.58 Last
Low 396.87 Low
Pivot Point 1st Support Point 390.81
387.59 38.2% Retracement From 52 Week High
380.65 14 Day %d Stochastic Stalls
Pivot Point 2nd Support Point 378.04
374.74 38.2% Retracement From 13 Week Low
369.24 3-10 Day MACD Oscillator Stalls
1-Month Low 366.28
325.43 50% Retracement From 52 Week High/Low
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