ZOOM
Zoom: Reversal at $400Zoom is already knocking on the door of $400 psychological.
Even though we have been going down pretty steep & wedgy and gave back 40% from the tops, Zoom managed to maintain the 50% Fibo Levels from the bull move up:
A break above $400 higher would lead to a more sideways consolidation from the ATH, instead of steep continuation. We can expect to run towards the upper $400 range to towads $500, so definitely a 20% profit potential from current levels.
BlackBerry still a Buy?On Dec. 1, Blackberry announced it had partnered with Amazon Web Services to develop and bring to market BlackBerry's Intelligent Vehicle Data Platform, IVY. Automakers will be able to use the software for the smart and autonomous electric vehicles being developed.
On Oct. 16, Blackberry announced it was partnering with Zoom. Zoom will be using Blackberry’s Blackberry Dynamics cybersecurity software in its mobile platform to protect companies from cyberattacks and data breaches. Blackberry Dynamics software also provides secure video conferencing, which Blackberry says will become more necessary as companies move away from in-person meetings.
Earlier this month, it was reported that Blackberry had sold 90 patents to Chinese telecommunications company Huawei. (Source: benzinga.com)
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$ZM struggling with fib retracement. Inverted C&H?Hello fellow traders and padawans. I did a previous analysis on ZM where I suggested it formed a rounded top (links below). Zoom reacted from the rounded top neckline and rallied a few percentage points. It is struggling with the first fib retracement level for the third consecutive day, which I have anticipated on the previous analyses (seriously, check them out). It looks now that is forming an inverted cup and handle, which is a common pattern to be formed after a rounded top. Bulkowski even suggests them as "related patterns" on his book.
Anyway, keep this on your radar. If the pattern is confirmed there may be way more downside for zoom. Also, there may be smaller patterns within the inverted C&H. Remember: large patterns tend to win most of the times.
Safe trades!
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***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
ZM completing WXY correction?I think Zoom is close with its long WXY correction. Resistances at $375 and $410. Rumors with S&P 500 inclusion would be the catalyst to reverse the current downtrend. Zoom almost filled the ER gap back in September. Relative volume today was high leading to signs that a impulsive wave may be ready.
ZOOM in troubleIf you read my previous analysis you would know ZOOM is in a very weak position here. Everything points to more downside coming. The technicals are the same as my previous analysis so you can check that one out (link below). The important thing here is that ZOOM broke below the rounded top neckline and is failing to move back up. I also added the 200SMA and the 200EMA to the chart. As you can see, ZOOM is sitting on the 200EMA now. If it breaks below it still has the 200SMA. If the 200 SMA is broken I believe ZOOm is in big trouble. I sold most of my shares this morning and bought XPEV, LI, TSLA, NIO, and PLTR (check my analysis on those so you understand why). Best choice I could have made; I am up an average of 10% on money that was sitting on the neckline of the rounded bottom and showing no strength to move up. If it doesn't react soon I will unload all of my shares.
Safe trades!
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
ZOOM looking very weak The darling of the pandemic lost a lot of its momentum over the past 40 days or so (vaccines and other prophylactics are certainly major catalysts for the drop). I think ZOOM is still a good stock for the long term but it already lost about 42% from ATH and still looks very weak here.
BEARISH SIGNALS
1. Price has been butting against support for several consecutive days. One could read this as strong support that will hold the price but the price hasn't been able to move up either.
2. Price is below the 14, 21, and 50 emas (50 ema is not on the chart).
3. Price is getting dangerously close to the 200EMA and 200 MA (not on the chart), which are normally seen as divisors between uptrend and downtrend. Price is still (barely) above both though so we cross that bridge when/if it we get there. This is something to be on your radar though.
4. There is a rounded top that formed. The price seems to be sitting on the neckline at the moment and could see a reversal from there but the other indicators + volume don't favor that scenario (one could also read the lower trendline as the neckline but since the price found support here for several consecutive days my interpretation is that this is the neckline).
5. MACD is way below 0 and not showing any sign of reaction at the moment.
6. -DI is above +DI (red line above green line) and the ADX crossed above 20, showing a potential strong trend is on its way (a down trend in this case).
7. OBV is in divergence with price showing opposing forces on the market. One will eventually win. Doesn't mean it has to happen soon or at a quick pace, but OBV and price are in disagreement.
SCENARIOS
1. Given these indicators I would be more prone to bet on price moving lower than moving higher. This doesn't need to happen soon (and doesn't need to happen at all) but that is what these chart indicators are showing.
To minimize losses if the price goes down, keep an eye on the 200EMA, which is just below the trendline, and the 200 MA, which is at around $315 at the time of this writing. If the price breaches and closes below the 200MA it could signal the beginning of a downtrend.
2. Volume has been very low so we could be trading on a range for a little longer and perhaps this scenario will change. However, at the moment things don't look favorable for a bullish move.
3. A retracement (move up) could happen as well since the price is holding at the neckline. If the price moves up, pay attention to the .236fib retracement level (around $399.57). If there isn't much volume at that point and indicators are still not showing bullishness you can sell some shares and wait to see what ZOOM does next.
Safe trades!
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
ZM - Zoom - Watching for Reaction @ Daily 200ema/Weekly 50emaZM
Buyzone = Reaction @ Daily 200ema support/.5fib @345.42
and Weekly 50ema @306
TTM, Macd, Stoch are all setting up.
Cost Avg Down Areas = 288/216
1st Target = .618@402
2nd target = .786@485
3rd Target = ath 588
HODL Target = 700+
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This content is for informational and educational purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
All the items you need for a long setup on ZOOMLet's see all the items we need to understand to develop a long setup on zoom
CONTEXT: It's essential to have a context aligned with our view before developing setups. In this case, our Context is a bullish ascending trendline that converges with a support zone, creating a great area to think about a reversion of the direction
STRUCTURE: Supported on the previous item, we can see a FLAG Patter. From a technical perspective, flag patterns are considered continuation structures, meaning that after the breakout of it, we should see a continuation of the price in the previous direction before the consolidation.
TARGET: To define our Target, we use Fibonacci Extenssions; in this case, you have to identify the previous impulse before the correction and draw the extension from there (if you don't know how to draw fibo extensions check the link to related ideas. There you will have a full explanation of it) / Its imperative to always have Risk Rewards ratio above 1.5 on your trades, in this case, we have 1.9 so we are good.
SETUP: Now that all the previous items are OK, we will define our Entry level above B / Stop loss below C / Break-Even level on the first Fibo Extension / Final Target on the 2nd fibo Extension.
RISK: Your account will always be protected if you risk 1% of your trading capital on any given trade; that way, you can absorb losing trades without compromising your whole account.
$ZM Has Come Into Support Area - Reversal WatchLook at how the price on $ZM reacted when CCI previously broke into the green box. I would add this one on my watch list for the reversal. Especially if it trades above $342.
If this occurs, my price target is $375 then $389. I've marked some key pivot areas on the chart to watch intraday.
If price opens below $336, you can take a short trade to the support level below. However, I would not take it with RSI being so low.
ZOOM (ZM)| Short-, mid-term reversal area!Hi,
It is a short-, or mid-term opportunity because we don't know exactly when the lockdowns will end (people start to go back into their offices and start using video communication services a bit less) but atm looks like we can catch some technical movement.
Slowly the vaccin starts to kick in but let's see, there can be many-many obstacles considering vaccin and even covid itself so that's why I consider that the investment on Zoom should be short-, or mid-term.
Techincally the buying area stays $260 - $320 and the criteria:
1) Weekly EMA 50
2) AB=CD equal waves from the top
3) The mid-round number 300
4) Fibonacci golden ratio
5) 50% drop from the ATH
6) Small resistance on Daily matching nicely with other criteria
Do your own fundamental research and if this matching with my technical analysis viewpoints then you are ready to go! If it doesn't match then...skip it!!
Good luck,
Vaido