ZM - 3D timeframe hints at potential MACRO shiftHi guys, this is a Technical Analysis on Zoom.
So many stocks have done well in this bull market and some not so much. My focus is to catch some potential ones that are down significantly from their blow off tops, in the process of bottoming.
Note this is a 3 Day timeframe. This analysis is to see hints in these intermediate timeframes to see whether there is potential for these findings to impact the bigger picture or MACRO trend.
Current Price action for the last 4 candles have printed support above the 50 DMA (green moving average) and 21 EMA (Yellow moving average)
Note also the 50 Green DMA is starting to flatten out, indicating a potential BOTTOMING sign, since if you look left the things been signficantly pointed down since blow off top.
Also note the 21 Yellow EMA is starting to slope up, trying to cross over the 50 DMA.
This has happened only 1 time in the history of 3D Zoom chart but when it did, a massive bull run ensued after. This is something to OBSERVE.
ANother plus point, we are above the 2 sloping trend lines that were resistance lines since July 2022 and Nov 2022.
NOw lets look at the CANDLE characteristics of the 4.
Its important to notice the UPPER WICKS forming -> this indicates selling pressure, and that we are hitting on some tough resistance, indicated by the RED rectangle.
BUT note the highlighted candle formation -> This is a Dragonfly doji, which is a BULLISH candle pattern. I wont go into the details as i am not an expert but just note its not a traditional dragonfly so the power of its impact, may vary. (Again i could be wrong, so don't hold me to this and correct me if im wrong)
Note the tail of the Doji, how it bounced off this major convergence of support between the July 2022 resistance line, and both MA. Great sign in my opinion for a bullish case.
BUT also keep your mind on the various support lines below price action, if we get rejected here which is always a possibility, look for price to test:
1. Firstly the moving averages
2. The July 2022 resistance now flipped support
3. November 2022 resistance now flipped support
4. Lastly, the RED horizontal MAJOR bottom support at around $61. WHich we have never gone below in the history of ZOOM.
Lets move onto my indicators:
1. RSI- Note the Red line, this is actually a reference to the BULLISH DIVERGENCE forming in zoom. Notice also the first white horizontal line, We have recently broken major resistance and formed a higher high in RSI. This is a good sign in my opinion. The 2nd white line above, is something that if we break would indicate MAJOR trend change, as we would break the June 2021 highs on RSI.
2. MACD -> momentum indicator -> Notice how the histogram bars have shortened and the Blue/Red lines have flattened. This in my opinion, this "quiteness", may indicate a "Calm before the storm" scenario. Also if we are crossed up where the Blue line is over the red and ABOVE the 0 level, that could be a sign for bullish momentum. Especially if the space between the 2 lines widens.
3. ADX & DI - Notice the green line is slowly moving above the White horizontal line, if we can get significantly above it, its may indicate a chance for further bullish momentum. If also the white line comes up and pierces the green line, that would add to the bullish momentum case.
*BULLISH DIVERGENCE is a bullish pattern where price action on the charts shows lower lowers but the indicators show higher lows. This pushes price to "catch up" with what the indicators are showing, since normally price action should mirror indicators & vice versa.
CONCLUSION:
Price action is currently in an interesting zone of resistance. Getting above this would be monumental for ZM for sure. We have some great support levels hanging out below us, which could make for some nice BUY zones if price gets there. But in the great scheme of things, and in my opinion, NOT Financial advise -> Zoom is extremely cheap. There are some bullish signs like the dragonfly doji, potential EMA/DMA cross, Higher high RSI and more...... COuld these be the necessary catalysts to have zoom finally start a bull run, well....... TIME WILL TELL.
THANK YOU for taking the time to tune in. Please support me by boosting, following and commenting. Feedback always helps and or expressing your thoughts would be great.
DISCLAIMER: This is NOT FINANCIAL ADVISE. I am not a financial advisor. This is strictly my opinion and for educational expression. Trade with caution, always focusing on RISK MANAGEMENT. Protect yourselfs, deploy stop losses.
Zoomstock
$ZM - ZOOM long term buys. Zoom has certainly been a hot topic in the stock market as of late, with the increasing popularity of remote work and virtual meetings. The volatility in the market makes any stock trade idea risky, but there are a few factors to consider when it comes to Zoom.
First, it's important to look at the company's financials and performance. Zoom has shown impressive growth over the past year, with revenue increasing by 355% during the second quarter of 2020. However, it's worth noting that competition in the video conferencing space is fierce, and there are no guarantees of continued growth.
Additionally, keep an eye on broader market trends and potential economic impacts. As the world continues to navigate the COVID-19 pandemic, any shifts in consumer behavior or economic policy could affect Zoom's stock price.
As always, it's crucial to do your own research and consider all factors before making any stock trades. I'm here to assist you with any information you need to make an informed decision.
ZM Zoom Video Communications Options Ahead Of EarningsIf you missed my other calls on ZM:
Then you should know that looking at the ZM Zoom Video Communications options chain ahead of earnings , i would buy the $75 strike price Puts with
2022-11-25 expiration date for about
$2.80 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
Why ZM Zoom Video could go higher by Friday!! ZM Zoom Video reached our Buy Area:
As you can see in the chart, Zoom Video Communications, Inc. (ZM) reached our price target!
Friday, before the close, at 16:29:37 someone bought 20300 ZM shares at $72.29 for about $1.5Mil.
But that`s not all!
Also before the bell i saw 9K calls worth $1.4Mil, with the following characteristics:
2022-10-21 expiration date (this Friday!)
$73.10 entry price
$75 strike price
$1.55 premium paid.
In order not to expire worthless, the shock should reach $76.55!
The stock was $72.29 at the close and i think it is primed for a comeback!
ZM Zoom Video is the 2nd biggest holding of Ark Invest with $1.03Bil invested their average entry price being $274.87! the stock is now only $72.29.
ZM stock lost 87.85% from its all time high. I think this could be The bottom.
On 8/23/2022 The Goldman Sachs Group set a Price Target of $122.00 for ZM Zoom Video.
My short term Price Target is the $106 resistance.
Looking forward to read your opinion about it.
Zoom placed on a Safe pointZoom Stock is now on a harmless point and can rise up until the Highest price it was and the only thing it want is Patience.
Buy@ 100$
Stop loss@ 40$
Take profit@ 750$
it is so important to buy in several price and step by step... Follow your money management and do not be greedy.
ZM Zoom Video Bullish PennantIf you haven`t bought ZOOM at the 52 week low:
Then you can see on lower timeframes that it has formed a Bullish Pennant with a price target to the next resistance of 239usd.
You can see a gap between 227 and 239usd, so it will be easy if it passes the 227 resistance.
Looking forward to read your opinion about it.
ZM (Zoom) Bump and RunA bump and run can be observed from the ascending channel being formed
Bump when the price moves above the channel
Run when price declines back towards the channel
This is known as a "Bump and Run"
Price can also seen to be sitting at the .5 fib level from its ATH
Good buy entry for long term
$ZM key bounce/institutional entry!Zoom is bouncing... Just look at the daily candles leading up to our 3.40% bounce on friday 9/17, they couldn't have looked better than that. You also cannot ignore the oversold RSI on the daily, we have NOT seen this since the last time Bernie Sanders had a heart attack, which was in October of 2019. I love the entry here just waiting for a trigger and confirmation, the technical side of $ZM doesn't even look nearly as good as the potential fundamental side this company has in the near future. I wanna keep this short, please do your own research.