ZS Support Line? Neg Earnings Brought us Here- Over Sold
Updated
Not so many days ago, ZS missed earnings by a little bit but still show strong revenue support.
You can see the downward gap on earnings day.
BUT-
Back in February you see the Positive Power Earnings Gap from the $50 support level up to the $57 level. Almost the exact same line as this recent earnings fall. This triggered an OVER SOLD on my watchlist and took a look at RSI well below 30. I love these spots and when looked at trend from beginning of the year through beginning of July, ZS was steadily in growth mode. We are at a greater than 40% price break from the 52 week high of 89.54
Let's see if we can't reach that GAP back up to $59 over the next month or so.
Thoughts?
You can see the downward gap on earnings day.
BUT-
Back in February you see the Positive Power Earnings Gap from the $50 support level up to the $57 level. Almost the exact same line as this recent earnings fall. This triggered an OVER SOLD on my watchlist and took a look at RSI well below 30. I love these spots and when looked at trend from beginning of the year through beginning of July, ZS was steadily in growth mode. We are at a greater than 40% price break from the 52 week high of 89.54
Let's see if we can't reach that GAP back up to $59 over the next month or so.
Thoughts?
Note
ZS just got upgraded this morning from Hold to BUY from BerenbergShould help boost the price up a little bit
Always like getting ahead of good news. Let's continue
Trade closed: stop reached
Tripped a Stop/Loss today and closed out early AM. Will continue to watch to reenter possibly.
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