Are the Bulls Finding a Home with Zillow?
Like many small growth stocks, Zillow pulled back hard between mid-February and mid-May. And like many small growth stocks, it’s now showing signs of returning to life.
Notice ZG’s basing pattern above $105 in the last two months. This is a sign of stability as selling pressure abates and buyers get comfortable with triple digits.
Next are the closes above the 50-day simple moving average (SMA) in three of the last four sessions. That marks a charge for ZG, which had been trapped under that line since early March.
The 8-day exponential moving average (EMA) has also risen above the 21-day EMA, a sign of shorter-term momentum getting more bullish. Again, it’s the first time this has happened in a lasting way since early March.
Fourth, notice how MACD has been rising steadily for the last month.
Finally, you have the falling trendline along the highs of March and April. ZG has recently been breaking free of that resistance as well.
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Notice ZG’s basing pattern above $105 in the last two months. This is a sign of stability as selling pressure abates and buyers get comfortable with triple digits.
Next are the closes above the 50-day simple moving average (SMA) in three of the last four sessions. That marks a charge for ZG, which had been trapped under that line since early March.
The 8-day exponential moving average (EMA) has also risen above the 21-day EMA, a sign of shorter-term momentum getting more bullish. Again, it’s the first time this has happened in a lasting way since early March.
Fourth, notice how MACD has been rising steadily for the last month.
Finally, you have the falling trendline along the highs of March and April. ZG has recently been breaking free of that resistance as well.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
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