Zoom Buy near support, sell or short near resistance
Après une formation Head and Shoulder le cours de l'action va descendre jusqu'à sa plus grosse zone de support avant de repartir à la hausse.
1ZM trade ideas
ZM LongIf this is consolidation in uptrend, the next target is FIB#1.6 = 723
PlanA: Trendline Break + revisit
Entry 413
stop 385 below up trendline
Target 585
PlanB: Demand Zone below Consolidation
Entry 370
stop 340
Target 723
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
ZM : Zoom in correctionHype around Zoom is being replaced by hype around Moderna.
P/E for Zoom declines from 600 to 450 as earnings grow. Forward P/E is currently estimated at 150 projecting further earnings growth. That's a lot! Forward PEs for Salesforce and Netflix are 65 and 56 respectively.
If Zoom earnings grow 2x than projected and stock price declines by 33% then PE comes to 50 (years of earnings to justify the stock price). At least comparable to other hot techs.
And what the chart tells us about possible end of correction in Zoom?
Nearest level is probably 310-325 and more distant one is 260-265.
ZMCrushed earnings and still sank. Its okay, It is now setting up for a reverse head and shoulders if support holds. I am expecting a bounce tomorrow and in the next 2-3 weeks Im sitting on a move back to highs.
Zoom earnings Prediction After the market closes today ZM will report their quarterly earnings. A remarkable stock none the less. But the primary catalyst for their success during these extraordinary times has been the very pandemic itself. With that being said much success has begun to arise for MRNA and PHE for their promising vaccine results. And talk of discussions of the vaccine are in the works. (Positive vaccine news .. the sooner schools open) Which bottom line leaves me to believe no matter the out come for Zooms quarter, i predict it will fall.
And from the Charting stand point, a cup and handle pattern seems to be in the making, which only gives me that much more confidence in a likely decent.
Zoom Resistance Levels before earnings Zoom has currently bullish riding an upward trend. Look for it to pass the 474 resistance pre-market and fill the gap to 503. It is trading above the MA40 and MA13. For best risk management practices, watch for the shift after the earnings are release monday evening.
