Z trade ideas
ZILLOW GROUP: PROBABLE BREAKOUT Hello Traders!
Yesterday the price of Zillow Group has broken out of the historical resistance level, trading at the highest historically. The RSI also is looking bullish and the MACD has seen a bullish cross and reversal.
It seems a great opportunity to go long as the price is expected to gain a strong bullish momentum!
TARGET PRICE: 79.05
STOP LOSS: 55.45
Please maintain proper position sizing and risk management!
Z Long SetupIH&S on the daily with a neckline break that could send Z to ATHs. Historically, Z has been held down from a level of incredibly strong resistance. DMA's have caught up and new accumulation creating a new base of support as well as reversal in the indicators could push Z up. Next strong level of confluency is at 80, which I hold as my next PT for Z on a break of its resistance.
Zillow Group $Z$Z is very close to the pivot has been trying to break since 2018. watch for a breakout $66.44 with high volume.
12 months Consensus Price Target: $62
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Thx
Zillow Group Inc (Z - NASDAQ) - Impulse wave patternZillow Group Inc (Z - NASDAQ) has completed 4th wave ABC correction and moving up in 5th wave final move up.it is moving in wave 2nd which might take one more low to complete in 5 min time frame as c wave. , which will be ideal entry for move up, until it holds the invalidation level of 4th wave low.
Z ZILLOW - DAILY Bullish Engulfing SetupZ ZILLOW
DAILY BULLISH Engulfing Setup
Perfect Entry 55 - 57
ENTRY = 55-60
1st Target = 66+ New Highs
Engulfing Candle on Daily
786 &20ema support @ 56
Bottom of current regression uptrend.
Holding 20ema & .5fib@ 56 support
Stoch, macd, ttm squeeze & momentum BULLISH
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This content is for informational and educational purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
Zillow 50% Fib CrossZillow closed at $42.46 on Friday for a -$1.50(-3.41%) loss. Price also closed back below the 50% Fibonacci level which was briefly breached to the upside last week but failed to hold as support going into the weekend. The 50% Fibonacci level acted as resistance back in March and April highlighted by the red arrows and appears to still be resistance now. Price needs to hold above the orange trendline in order for the short-term uptrend off of the March low to be sustained. Should the orange trendline fail to hold as support, the next level to watch for price to potentially hold at is the 38.2% Fibonacci level at $37.82. A move below that level would put price back in the purple shaded area of the total Fibonacci range which is the bearish end of the Fib levels.
The Relative Strength Index(RSI) is in a short-term decline with the green RSI line trending down, but remains above the centerline at 50. Above 50 indicates short-term bullish momentum, below 50 indicates bearish momentum. The purple RSI signal line is below the 50 level which indicates that the intermediate-term momentum never turned bullish. The green RSI line crossing below the purple signal line would be a bearish cross and indicate bearish momentum.
The Price Percent Oscillator(PPO) shows the green PPO line and purple signal line rising above the 0 level which indicates short-term bullish momentum. Above 0 is bullish, below 0 is bearish. The green PPO line trending above the purple signal line, and both lines trending up indicates bullish momentum.
The ADX shows the green +DI line above the purple -DI line which indicates a positive price trend, but the two lines look ready to cross which would indicate a shift to a bearish trend behind price. The histogram in the background indicates trend strength, which recently has all been small green bars that are trending relatively flat. Histogram bars rising indicates increasing trend strength while declining histogram bars indicate weakening trend strength.
Volume is relatively low during the recent price advance, and in the overall move higher off of the selloff low volume has been decreasing which is a bearish indication. In general, you want to see rising volume in an uptrend.
Overall, price is following the broader market for the most part with a current inability to hold above the 50% Fibonacci level. The trend, momentum and volume indicators below the chart are showing weakness as of Friday’s close. If price can manage to hold above the orange trend line the current uptrend will still have legs. Should price fall below the orange trendline and 38.2% Fibonacci level you can expect a new bear trend to be in play. Current stop-loss for longs should be placed just below the orange trend line, or the 38.2% Fibonacci level. Current view is neutral; bullish if price holds above the orange trendline; bearish if price breaks below the orange trendline.