$ZM - Still pointing downIt´s a tricky corrective movement, but this is our primary count at this moment.
1ZM trade ideas
ZM - Getting ready to rally again ?Since price topped October last year, I've been on the sideline with my clients and put this one back into our watchlist a few weeks ago.
Now it seems about to have finished a 3 waves correction wherein wave B is a Triangle.
Triangles precede the last actionary wave in the pattern of one larger degree.
Simply put, it signals that the end of the ABC correction comes after one more move to the downside, in this case after wave C.
This gives us a reason to look for a reversal point.
That reversal zone might just have been found as price bounced off the green 52week EMA and the orange anchored VWAP.
Notice also that price, although it went a bit below the 100% projection of wave C compared to A, is now holding above it.
Same for the 23.6% retracement level of wave 3.
So, for now, as long as price doesn't go below 309, I will look to buy and hold this one towards 441 at first followed by the ATH at 588.
If price does go below 309, I won't dismiss my bullish view but I will stop buying until I have reasons to believe that red wave C ended and price bounced off a potential reversal zone.
Bear Flag: fade the bounce ZM stuck mid-way in a descending channel since Nov. '20. Bear flag setup. Target mid 200's.
Zooming in on $ZM, we see a strong correction underway.Charting for a friend.
On the 1D chart, it looks like Corrective Wave C is underway.
Target price range to look out for is between $194 to $261.
Recommendation would be to wait on the sidelines with your dry powder, on this one.
A pitchfork experimentLearning and experimenting with the geometry tools. Will revisit this in the future to see if I was close or not.
ZMBouncing off the weekly 50 & trendline. Weekly close above 5 week ema ($365ish) would be bullish imo.
ZMBacktest of trendline breakout holding, so far. Filled the gap from 8/31 and closed above 5 ema but volume next to nothing so waiting to see how it reacts the rest of the week. Some consolidation here would be healthy imo if we do get it. RSI divergence noted as well. Weekly next.
Caution on higher open - prices test 20sma, RSI tests 50This hourly Zoom chart is an example of what I see on many stocks. A gap up open brought prices to 20sma, in this case for the first time since beginning a strong move down. You can see the white lines on price and RSI show bullish divergence, which indeed resulted in a move up, but remember divergence often leads to a bounce, not a complete trend reversal.
In this case, RSI is now around 50, we have to close the 10:30 candle, and after (for the bigger picture) we see if RSI reverses lower with price or moves higher. There are definitely good call day trades to be made in these situations, and you should use the smaller timeframes and take profits at targets. The larger trend is down right now, especially if RSI stays below 50.
Check the 10:30 candle and see if price closes over or under the 20sma to help you decide what to look for on your smaller timeframes.
ZM setupWill be trying this strategy out with ZM
1x 4 week call option with a strike price of 367.
1x weekly put option with a strike price of 275 as a hedge.
Using MACD and RSI as guides in the 1 hr timeframe. 15 min for short term timeframe.
Good luck!
ZM has room down to support zone - new lower price todayOn the hourly chart you can see the moving averages are in a clear downtrend still, and today's price broke Friday's low. On 60m chart there is a bullish divergence signal with RSI making a higher high and price a lower high (between Friday and today), but this does not always result in a bounce. Hence if you buy in this last hour keep a small position and check for price close below 315. For a safer trade, keep this on watch and buy puts or calls tomorrow for a day/swing trade.
I bought puts this morning when price was over 333 and closed them when price neared 315. I opened a new position of weekly 290 puts to hold overnight as long as my trade conditions hold into close.
Zoom Still has room down [UPDATE]Update from previous post. Previous post still has updates too.
Check my post in the related idea section of this post. Go back and check those out.
ZOOM (ZM)| Approaching The Buying Area!Hi,
The price of the well-known video communication software ZOOM has started to approach quite a solid buying area, at least from a short-term perspective.
Long story short, technically, the good buying area stays between $240 to $302 and the criteria are:
1) $300 the mid-round number acting as a support
2) Small resistance level in 2020 become support
3) 2x Equal Waves ending points are in the marked green buying box to add strength in there
4) 50% fall from the ATH (all-time high)
5) Minor lower trendline third touch
6) Fibo retracement 62%
These are the major criteria for this current rejection area, do your own fundamental research and if this matches with my technical analysis then you are ready to go.
The first target stays around $400 ~30-40%
The second one will be the current ATH ~100%
Stay healthy,
Vaido
Zoom target price?Zoom closed below its 200 EMA for 3 consecutive days! Officially it is in bear 🐻 mode now.
Price could drop to 270-280 by the end of March or early April 2021
$ZM going for a freefallZM chart looks bearish, Head and shoulder pattern after ER. MACD RSI everything is pointing down
following targeted supports:
T1: 330
T2:300
T3: 280
ZM ShortWedge breakout in Downtrend
One Swing Crossed SMA50 and SMA200
Stop 386 Above SMA50
Short 338
Target 240
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.
Zoom - key support - in 3Dthe very idea of an interest rate above zero, at some point in the future, sends NAS into a spin. Market bear flag...
Zoom at posible support area$ZM below the 200MA but within the gap support. Low risk to reward trade here
ZM needs to hold its channel and support at $350When ZM offered $1.5 billion of shares last Jan for $340, it makes me believe it's strong support of ZM. Now ZM will consolidate in the range of $350 - $450. If ZM can somehow reach back and break its strong resistance at $450 and hold above $475, I believe ZM could reach out back to its ATH
Safe zone to buy: $375'
Go long: $475
Fundamental catalyst makes me believe going long ZM because of Cathie Wood, also ZM have $4B cash in balance sheet, enough to acquire another business or start-up to expand its communication platform for enterprise, plus the company is making money, very clean on balance sheet and very minimal of debt, just very too young in the tech industry, need another year or 2 years to convince people. Tesla needed 4 years before taking off.
