$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 trade ideas
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.
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.
EW Analysis: ZOOM Is Looking For A Deeper CorrectionHello traders and investors!
Today we will talk about Zoom, its price action from a technical point of view and wave structure from Elliott Wave perspective.
Zoom made a massive rise in 2020 as it was and it's still very useful app for video communications.
However, nothing goes in straight lines, so we see it as a completed wave 3 and since October 2020, we can see Zoom trading in a bigger, higher degree a-b-c corrective decline within wave 4, which seems to be unfinished after recent sideways price action and corrective wave structure, ideally a running triangle pattern within wave "b".
Well, with current strong decline, it looks like wave "c" is now in progress that can push the price even down to 280 - 230 support zone before we may see a bullish continuation back to highs within wave 5.
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Last chance for ZM bulls - will history repeat?If ZM cannot reverse and pull back up from here, we will see a nasty move to the downside, i'm long ZM but I need to see strength that ZM bulls could make a countermove in the history to push the price up and pass $475 in next 2 weeks??? We will see how it plays out by the end of the week.
Zoom looking for a new ATHIt looks like the market favoured the last earning releases from the company this week and price has increased with volume which is a good indication of bullish momentum kicking in.
On the technical side we have an overall very strong bullish trend that has been under a correction during the past weeks. This corrective period formed a descending wedge pattern on lower volume that just recently was broken out to the upside and then retested. Thus probability is on our side for another bullish leg to play out.
targets here are the next Fibonacci extension levels from previous bull run. This being:
Target1: 1.27 fib extension at the 680$ area.
Target2: 1.618 Fib extension at the 810$ area.
