JICPT|Don't rush to buy Zoom for new wave of covid! Hello everyone. I've been on a business trip for over a week and got no access to TV from the hotel.
I think it may not be too late to talk about the new strain-Omicron. The news that the first case was found in EU as well as US triggered a wave of sell-off. Investors were worried about the new strain due to its transmissibility. Back then, scientists need time to have a better understanding of the features. We can clearly see stay-at-home sector got favored as it attracted fresh funds, zoom is one on the list.
However, I don't think it's a good time to jump in at the moment. The reasons are as below:
1. Weekly structure : A potential AB=CD pattern is forming. It might go further down to $92 .
2. Daily structure : The downtrend channel got well respected. Look at those MAs, it's still in downtrend.
If you're keen to the stock, better wait till the daily structure gets terminated.
What do you think? Give me a like if you're with me. Thanks for your support.
