ZS - breakup from Bull Pennant imminent?ZS appears to be ready for a break up from the Bull Pennant that had been forming since more than 2 weeks ago. I am looking to long it @ 106 or less with an initial tight stop just below yesterday's candle low @ 103. Should the stock pulls back instead, I will look to Long it again nearer to the base of the Pennat (@ approx 100).
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Z2SC34 trade ideas
Bull FalgZS strongly resisting the expected parabolic Eiffel tower pattern, inv. V shape, indeed apparently forming a by-the-book Bull Flag pattern, once price action accompanied by heavy volume to the Up-Side triggers, possible next target price range could swing between 138/140 (2.618 Fibonacci level). GL
$ZS Breakout targets for Zscaler
Zscaler reports Q3 EPS 7c, consensus 2c 16:07 ZS Reports Q3 revenue $110.5M, consensus $106.3M.
Read more at: thefly.com
Acquisition news
Zscaler announced it has acquired Edgewise Networks. The company said, "Edgewise Networks significantly improves the security of east-west communication by verifying the identity of application software, services and processes to achieve a zero trust environment which measurably reduces the attack surface and lowers the risk of application compromise and data breaches." Terms of the transaction were not disclosed.