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 trade ideas
Zoom's disappointing outlook - Don't catch a falling knifeReasons for shorting this stock:
- Expected slowdown in future revenue
- Reported slowdown in new customer acquisition
- Decline in the number of small-business customers
- Failure to buy Five9
- Increasing competition with bigger names
- Multiple analysts downgrades
In the near term, I see ZM heading to $160-170 area.
Zoom in potential danger?The $240-$280 support zone could not stop Zoom's falling, in the following days Zoom should find support near the $200 region, if not I expect more downside. Not financial adive, just my opinion.
Downside: first target near $180.
Upside: after reversal first target $240.
Take care, stay green.
ZM Short setupHopefully you find the chart helpful in terms of Supports & Resistance etc. we refrain from adding commentary on the chart as that is reserved for our members and we are very conscious of not giving financial or trading advice. Thank you for taking time to consult our chart and we would really appreciate a like, follow or comment