GOOG/AAPL spread reached all time lows! Correction expected!After AAPL reported strong earning; and announced the 4:1 split, incoming volume has drove share prices to all time highs. Its possible money is flowing out of certain tech(Goog,Nflx,ZM) and into this beast. This move does however look exaggerated. Looking for the spread to test $5 again, at the very least, $4.
Zm
$ZM Zoom - Bearish Descending Triangle$ZM Zoom - Bearish Descending Triangle
Haven't been a big believer in this company from the beginning. Not much of a moat. $MSFT Teams use growing monthly.
Monitor for a close below ~$244 key support level. If it breaks out of the upper trend line, this pattern will be invalidated.
Near term target: $225.00 by mid August
Note: Not investment advice.
Stock market preview-tech stocks $AAPL $AMZN $TSLAThis video overview is revealing the weekly bearish candles retest at the beginning of the week. $AAPL $AMAZN $TSLA $MSFT they are all covering almost 80% of the previous week bearish candles so be careful with going long unless we see a clear breakouts above the reecent high.
ZM is Flirting with the Trap DoorZM is flirting with a breach of the parabolic curve, which could allow the floodgates to open for that long-awaited larger correction, which would likely quickly bring the broad confluence zone into play at the trendline and the 50-day MA in the 200-225 zone.
We suggested this possibility a couple weeks ago . The alarms will sound for the ZM bulls under $242. So sayeth the Crystal Ball.
Also Not a Healthy LookZoom's long-term chart, like Amazon's, shows a clear rising broadening pattern. February was the time to buy, but not now. This broadening pattern, like Amazon's also looks complete or virtually complete at this point. The pattern will usually resolve with a move to the lower channel, then a bounce, then a fall from the lower channel.
If people wonder why I am so bearish on the markets, it is because I see these patterns everywhere.
$ZM has been Our Darling.. but the Red Light is FlashingZM is another example of a massively overvalued (by traditional measures) software play that suffered a clear "key reversal day" on Monday.
If this trend turns, the blood could pool below, with the $200 level hardly out of reach. We have been bullish on the name while the wind blows the right way. But Monday's action was a warning signal.
$ZM Pushing For New Highs | Options PlayTechnical Analysis of $BA plus this week's option play.
Zoom says added over 100 features as part of 90-day security plan
What we are looking for:
Breakout & hold from $262; These last few waves have been consistantly $20 per leg, looking for $279 next.
Retest of $254 providing a great entry, then breakout of $262
The Play:
$280 Call 7/17 @ $410 per contract
- I plan to grab one to get my foot in the door, will grab more if we come down and respect support
This is not financial advice nor am I a financial advisor
DotcomJack