ZM trade ideas
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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ZMWell this one got interesting quick. Gonna end up being a false breakout of the downtrend? Watching.
ZM Setup (Updated)After missing a massive sell off I adjusted my setup. Stop loss is 335. If we pass that then this is going to be a long bumpy road for ZM. I will be taking profits above 365. Good luck!
Last chance for ZM bulls - will history repeat?If ZM cannot reverse and pull back up from here, we will see a nasty move to the downside, i'm long ZM but I need to see strength that ZM bulls could make a countermove in the history to push the price up and pass $475 in next 2 weeks??? We will see how it plays out by the end of the week.
ZM - The Stock Market in 3D - Post Earnings EditionZM calls continue to pay. Watching for profit taking and a higher low. If Zoom is going higher I am scouting a 4 hour bull flag.
Zoom looking for a new ATHIt looks like the market favoured the last earning releases from the company this week and price has increased with volume which is a good indication of bullish momentum kicking in.
On the technical side we have an overall very strong bullish trend that has been under a correction during the past weeks. This corrective period formed a descending wedge pattern on lower volume that just recently was broken out to the upside and then retested. Thus probability is on our side for another bullish leg to play out.
targets here are the next Fibonacci extension levels from previous bull run. This being:
Target1: 1.27 fib extension at the 680$ area.
Target2: 1.618 Fib extension at the 810$ area.
$ZM: Post earning strength, potential target:$480$ZM announced good ER. I see a nice consolidation zone breakout. I see the short-term target as $480.
Potential target: $480
Stop Loss: 50SMA
ZMPretty textbook play here honestly. Super clean pullback to support after a breakout in an uptrend. This is by no means a guarantee to work, but the odds are in your favor that it will. Should see new ath soon if I had to guess. Long.
ZOOM Long | ZMWaiting on earnings report this evening..
whole sector has been down, but have not heard poor fundamentals for the company
price has retraced to the 50-66% range
Price is coming off a double bottom
target #1, is the previous high
ZM at 200MA dailyThe price holding at 200MA daily & big trend line, upside target 447 & 485, downside 280 & 230, also seems to be forming head & shoulder, watch for breakout and make sure to have stop loss set.
Breakout Levels: $400 ; $437
Breakdown Levels: $350 ; $330
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
Thank you, and please do your due diligence before any putting on any trades!
ZM FORECAST - ZOOM VIDEO COMMUNICATIONSLooks good for shorts above green line. Stoploss above white line. Targets are lines below green. This is not financial advice. This is record keeping only.
ZM All Time SupportZM hitting old support. I am looking for this stock to run up pretty solid this week.
