$ZM struggling with fib retracement. Inverted C&H?Hello fellow traders and padawans. I did a previous analysis on ZM where I suggested it formed a rounded top (links below). Zoom reacted from the rounded top neckline and rallied a few percentage points. It is struggling with the first fib retracement level for the third consecutive day, which I have anticipated on the previous analyses (seriously, check them out). It looks now that is forming an inverted cup and handle, which is a common pattern to be formed after a rounded top. Bulkowski even suggests them as "related patterns" on his book.
Anyway, keep this on your radar. If the pattern is confirmed there may be way more downside for zoom. Also, there may be smaller patterns within the inverted C&H. Remember: large patterns tend to win most of the times.
Safe trades!
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***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
