Zooming into overbought.
Updated
Consider taking your money off the shelf in you've invested in zoom. The price has blown past its weekly average and is at an all-time-high.
What's the old addage? What goes up must come down. Breaking the trendline is good for a stocks price, indices are soaring as well.
I'll stay neutral here for the time being, I'm not taking a position but I thought I'd follow this post with some news. I pose the question to the reader. Where is this money coming from?
Who is buying Zoom stock?
The CEO of Zoom has announced free calls are no longer encrypted to enable law enforcement to track and monitor organizers. This raises SERIOUS privacy/encryption questions about their paid platform.
Related NEWS:
boingboing.net/2020/06/03/zoom-ceo-says-it-wont-encryp.html
bloomberg.com/news/articles/2020-06-02/zoom-transforms-hype-into-huge-jump-in-sales-customers
What's the old addage? What goes up must come down. Breaking the trendline is good for a stocks price, indices are soaring as well.
I'll stay neutral here for the time being, I'm not taking a position but I thought I'd follow this post with some news. I pose the question to the reader. Where is this money coming from?
Who is buying Zoom stock?
The CEO of Zoom has announced free calls are no longer encrypted to enable law enforcement to track and monitor organizers. This raises SERIOUS privacy/encryption questions about their paid platform.
Related NEWS:
boingboing.net/2020/06/03/zoom-ceo-says-it-wont-encryp.html
bloomberg.com/news/articles/2020-06-02/zoom-transforms-hype-into-huge-jump-in-sales-customers
Note
Short shorts (haha) from my call would've been great. If the top of this trendline doesn't provide strong enough support expect bearishness.
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