ZOOM (ZM)| Approaching The Buying Area!Hi,
The price of the well-known video communication software ZOOM has started to approach quite a solid buying area, at least from a short-term perspective.
Long story short, technically, the good buying area stays between $240 to $302 and the criteria are:
1) $300 the mid-round number acting as a support
2) Small resistance level in 2020 become support
3) 2x Equal Waves ending points are in the marked green buying box to add strength in there
4) 50% fall from the ATH (all-time high)
5) Minor lower trendline third touch
6) Fibo retracement 62%
These are the major criteria for this current rejection area, do your own fundamental research and if this matches with my technical analysis then you are ready to go.
The first target stays around $400 ~30-40%
The second one will be the current ATH ~100%
Stay healthy,
Vaido
Zm
EW Analysis: ZOOM Is Looking For A Deeper CorrectionHello traders and investors!
Today we will talk about Zoom, its price action from a technical point of view and wave structure from Elliott Wave perspective.
Zoom made a massive rise in 2020 as it was and it's still very useful app for video communications.
However, nothing goes in straight lines, so we see it as a completed wave 3 and since October 2020, we can see Zoom trading in a bigger, higher degree a-b-c corrective decline within wave 4, which seems to be unfinished after recent sideways price action and corrective wave structure, ideally a running triangle pattern within wave "b".
Well, with current strong decline, it looks like wave "c" is now in progress that can push the price even down to 280 - 230 support zone before we may see a bullish continuation back to highs within wave 5.
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ZOOM- Bull Flag! 🐂After rising tremendous rates during the pandemic, Zoom got into a Cool-Down period.
Now that the bull flag was completed it is set again for a good rise!
Fundamentals:
Income statement: 2018-2019 --> +298.43% increase
2019-2020 --> +233.66% increase
Cash Flow: 2018 -2019 --> +164.24% increase
2019-2020 --> +195.90% increase
Big investors are keeping a HOLD opinion on this boy, while the street seems to catch-up on the Bull Flag.
Entry Point: In the short/Mid-term with the currently completed bull-flag we are keeping a BUY on Zoom. Long-term definitely a buy as well.
Also, the earnings are coming up next month on 03/01/2021 which will add some volume to the stock as well!
ZM - Rising Strength and Trending indicatorStrong weekly closure for last 2 weeks
Improving RSI from 51 to 65
Direction movement indicator signaling upside
Trending indicator value improving
There is 12EMA crossing upward of 50EMA
These confirmations suggest higher probability of price rising.
Buy if price stay above 430
Weekly closing basis Stop Loss = 419
Targets 460, 504 derived from Weekly Fibo 0.618 , 0.786
Zoom Video Communications Is BullishIf the pattern is confirmed to be an expanded flat then we will see the price head to $588 in the coming days. There is also a possibility of price breaking the last low at point c first before heading north, that's how this pattern sometimes behaves. Don't miss this. Like and share this chart with all your friends so they can benefit from this analysis. Thank you.
Bullish on ZM target 600-700 by March-AprilMid-term target 600-700 on ZM
Short term target for February 460-480
Key pivot: 420
Targets above 420 are 434, 450, 460, 480
This monster is about to wake up.
Broke out of a flag Friday, we either see continuation Monday or a pullback to retest the breakout.
$ZM/Zoom Wedge brokenWe see a demand base at $345-$280 blocking the price to drop as a result of the falling wedge caused by the Q3-4 transition.
After the stock jumps above the wedge (breaking the trend, see red circle), we see it respecting & hovering around the 382 support established and respected at the following dates (10th December '20, 16th November '20, 10th November '20, 10th September '20, and the 11th September '20) - the price adjusts above and below the support, before starting to push upwards - showing that it *is* being used as a support and not a resistance level.
I can see the stock reaching (at least) the dotted blue line as it was used as a resistance in September and December '20 but was also used as a support back in late September and early October '20.
ZM Long IdeaDon't know exactly why, but COVID stocks are acting well. Look at FLGT, QDEL, PTON, NLS, ZM, TDOC, and the vaccine manufacturers. Meanwhile the market looks like it's breaking down. Maybe we'll get a nasty second wave. No idea. But ZM looks pretty solid here and I don't hate it as a long trade. It broke down from an obvious head and shoulders top, but bears couldn't take control. Now it's pushing against the downtrend line and the 20-day. I don't own it but will be watching.
A good discount price for Zoom Video Communications, Inc ZM!Zoom Video Communications INC with stock symbol ZM is at a major price level of $375.17 as of market close on December 24, 2020. Some thoughts on portfolio management and risk management for new traders and new buyers looking into trading this stock or hold the stock as a long-term investment. This is a good discount price for this stock; however, new buyers should be very careful because this correction may continue further. Buyers should watch for a true bottom before entering this stock. If the price enters the price level from $324.65 to $350.46, the stock may bottom in that price range or the stock may drop quicker and harder to a price level around $275. Remember the old saying, "Don't put all your eggs in one basket."
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Greenfield
Disclosure: Chart interpreted by Greenfield. Just a market opinion by Greenfield Analysis LLC for educational purposes. This is not a recommendation. Greenfield Analysis LLC has no investment in any of the securities mentioned in the article, and no plan to initiate a trade in any of the securities mentioned. Greenfield does not receive any compensation for this writing. Investment involves substantial risk. You should consider carefully before making an investment. Investment at your own risk.
ZM Buyback is ComingI have a long bias on NASDAQ:ZM considering that this company has intrinsic retained value going into 2021 and should continue to have a nice valuation's as we use it in our day to working and school, furthermore I expect that it can pretty easily squeeze past 420 to higher prices as such low relative prices are often taken by market makers. My first target would be 447 followed by 520 and 559. These seem stretched but make sense as shares continue to be accumulated at these lower prices. ZM is at the lower bound of it's "COVID" range and it is evident the company isn't going anywhere in the near future. 383 is last weeks price where the most volume was conducted so I expect bullish action above this price and bearish action below.
ZM LONG BIDEN STAY HOME According to my analysis, it appears that we have confirmed reliable support from 325 - 350 . Now that we have also broken out the downtrend from the past couple months, it seems that we have started a new uptrend. The next few days should let us know if we are going to retest horizontal support but I am more bullish as of right now. If biden doesnt think covid is going away anytime soon then my most of everywhere is using zoom still. We could see a 100 dollar swing play if we keep this trend.