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Zoom testing convoluted levelTechnical analysis From October 19th, we have seen a 26-trading-day downtrend. The second attempt to break the trend was at the 38.2% fibonacci retracement level, which failed. We are now trying to test the same downtrend line (Red arrow), while also testing the 61.8% fibonacci retracement level. The 50sma which is converging with the 50% Fib; which seems to have a heavy resistance weight. OBV is in a range. Rotation analysis Cloud/WFH stocks saw a big rally in response to the pandemic. With vaccine news, the gave some of it back. Looking at the ratio of Value vs Growth in the $SPX, we still haven't broken the uptrend; indicating strength is still in play in growth. I expect the small caps to continue to outperform if we get the stimulus that is anticipated in the next couple of months.
NASDAQ:ZM
by dorfmanmaster
SAP ready for a slow n steady climb back up ? SAP was until recently the largest tech company in Europe, Now replaced by PROSUS but after a disappointing Q3 earnings it fell 20%+. Total revenue fell 4% to €6.54 billion, cloud and software revenue fell 2% and operating profit fell 12%. However, Pure-cloud services grew 11%, to €1.98 billion. SAP’s revenue was around €300 million under expectations, though per-share profit beat expectations. “Over the next two years, we expect to see muted growth of revenue accompanied by a flat to slightly lower operating profit. After 2022 momentum will pick up considerably though. Initial headwinds of the accelerated cloud transition will start to turn into tailwinds for revenue and profit. That translates to accelerated revenue growth and double digit operating profit growth from 2023 onwards,” SAP CFO Luka Mucic said in a call with analysts. Looking to scale in when price is in BUY ZONE (purple box), with Entry target of $100. Stop Loss $90. Exit target MINIMUM 2:1 RR , look at levels to find an exit. This will probably be a longer term play due to the revised forecast targets being pushed back from 2023 to 2025 THIS IS NOT FINANCIAL ADVICE, JUST A RANDOM IDEA
NYSE:SAPLong
by STONKZZZ
Cup formed, handle next, run into earningsUpdating my ADSK idea from a few days back which has played out nicely. This has formed a nice cup and considering 1. the bullish week it had and 2. the fib retracement (1) and extension (1.618) immediately above, it should bounce off resistance to begin forming the handle. I am reticent to predict an exact path but I think there is a good likelihood that consolidates below, potentially creating a proportional handle at 30% of the cup, before moving upward to new ATH in a pre-earnings run up. In the past version I had incorrectly listed the 1.618 extension by a point and have updated it to 265.85. I have also updated the upper trend line and fib extensions above.
NASDAQ:ADSKLong
by SpinTrades
ZScaler inside uptrend channel (Watching!)ZS has been behaving well inside the uptrend channel drawn. When we touch the upper part of the channel, we see a pullback to the lower segment line. RSI analysis suggests, we have difficulty going above the 70 level, however, the chart remains bullish whenever the RSI has been over the 43 RSI. A break below 40 in the RSI would be short-term bearish. -----> conditional Bull OBV has been trending upwards since the earnings gap-up we had May 29th. -----> Bull 50sma is lining up with the lower channel line, which could work as a support, and a buy entry with low risk.
NASDAQ:ZS
by dorfmanmaster