Zoom Trading in a Symmetrical Triangle
Updated
Zoom is Trading in a symmetrical triangle currently. It just bounced at a support level and is likely on its way back up to resistance. Watch out for earnings later this month as this could cause a false breakout in either direction. Short term long swing trade currently...
Note
Zoom broke out of this pattern to the downside. If you are willing to go short on stocks, the price target should be equal to the width of the triangle applied to the breakout point to the downside...
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