ZM trade ideas
ZMZm brokw out of a decending wedge and was accumilationg again, It formed a inverse head and shoulder’s and also a cup breakout
Long due to descending triangle and small inverse H&S pattern. Long due to descending triangle and small inverse H&S pattern.
Target and Sl and R:R mentioned on chart
ZM Buyback is ComingI have a long bias on NASDAQ:ZM considering that this company has intrinsic retained value going into 2021 and should continue to have a nice valuation's as we use it in our day to working and school, furthermore I expect that it can pretty easily squeeze past 420 to higher prices as such low relative prices are often taken by market makers. My first target would be 447 followed by 520 and 559. These seem stretched but make sense as shares continue to be accumulated at these lower prices. ZM is at the lower bound of it's "COVID" range and it is evident the company isn't going anywhere in the near future. 383 is last weeks price where the most volume was conducted so I expect bullish action above this price and bearish action below.
💡$ZM 📈 My update on ZOOM💰+30%🏌️♂️📖I posted a trade idea on Zoom a couple of months ago, you should check that out on my profile before reading this post. Much of that analysis remains the same. I still have the same bullish technical outlook on Zoom. I spoke about how ARK Invest had been buying Zoom aggressively. They have increased their holdings by $168,000,00 since then. Zoom sits both in their ARKK and ARKW funds. They have bought Zoom pretty much everyday since they first bought in October 2020. Their holdings are now worth over $611,000,000.
📈 Interestingly, it appears that Zoom is trading between two parallel trend lines. Both of these trendlines are acting as resistance and preventing the price from moving higher, but now price is printing between these parallel trend lines. This may be due to the subjectivity of trading with trend lines -price action traders draw them differently. A nice green candle above the outer trendline could be what it takes for the stock to move higher.
🔎This is not financial advice. Always do your own research and due diligence. Always wait for directional confirmation before entering a trade.
ZM Close to End of Correction Zoom has a gap below to fill on the 30 min timeframe near $367, which conveniently is located at the 0.5 retracement. Watch for a bounce around that area for long calls. A break above $400 will led to the BIG gap fill above
Zooming Downtrend (short term)Zoom is looking to continue a downtrend until reaching and completing a falling wedge formation. Today I entered 2/19 $330 Puts @5.10 looking to exit around SP of $335-320
Be safe and good luck!
ZM LONG BIDEN STAY HOME According to my analysis, it appears that we have confirmed reliable support from 325 - 350 . Now that we have also broken out the downtrend from the past couple months, it seems that we have started a new uptrend. The next few days should let us know if we are going to retest horizontal support but I am more bullish as of right now. If biden doesnt think covid is going away anytime soon then my most of everywhere is using zoom still. We could see a 100 dollar swing play if we keep this trend.
