ZM Zoom Video Bullish PennantIf you haven`t bought ZOOM at the 52 week low:
Then you can see on lower timeframes that it has formed a Bullish Pennant with a price target to the next resistance of 239usd.
You can see a gap between 227 and 239usd, so it will be easy if it passes the 227 resistance.
Looking forward to read your opinion about it.
ZOOM trade ideas
ZM (Zoom) Bump and RunA bump and run can be observed from the ascending channel being formed
Bump when the price moves above the channel
Run when price declines back towards the channel
This is known as a "Bump and Run"
Price can also seen to be sitting at the .5 fib level from its ATH
Good buy entry for long term
Zoom's disappointing outlook - Don't catch a falling knifeReasons for shorting this stock:
- Expected slowdown in future revenue
- Reported slowdown in new customer acquisition
- Decline in the number of small-business customers
- Failure to buy Five9
- Increasing competition with bigger names
- Multiple analysts downgrades
In the near term, I see ZM heading to $160-170 area.
Zoom in potential danger?The $240-$280 support zone could not stop Zoom's falling, in the following days Zoom should find support near the $200 region, if not I expect more downside. Not financial adive, just my opinion.
Downside: first target near $180.
Upside: after reversal first target $240.
Take care, stay green.