More Room For ZM shortHello! New trader here (About 11 months in) I believe sharing my analysis can be the best tool for me to take it to the next level. There are great traders on this platform that one can learn from and I am looking forward to that!
More on the subject, ZM broke 250 Support and heading down to close that gap. Short term I see it going for 325 before possible further downside. The next level would then be 273. Also broke a weekly trend (Green Line). Looking at RSI, still not in oversold territory and did make a new low from the previous low which can indicate continuation of downtrend.
Share your thoughts below! :)
NASDAQ:ZM NASDAQ:ZM
5ZM trade ideas
Zoom's Warp Drive Has MalfunctionedI bought in at the wrong time with this one.
For me I just need to take a loss for the shitty year called 2020.
So I will sell my position at a loss of $642.84 CAD -41.60%
I wish everyone ( investors traders and scalpers ) a HAPPY NEW YEAR 2021.
GOOD LUCK IN THE NEW YEAR.
* you only profit/loss when you sell.*
ZM on watchLooking for at least a short term bounce off this gap support with fib clusters. Must be careful with this one and keep stops tight. If the gap is lost to the down side the lower green zone is the next area of significant support and it's a ways down. My initial profit zone would in the 370 area. Best setup is to watch for a lower time frame reversal pattern in or above the top green zone and manage risk that way. I will do my best to update the chart if I see a reversal pattern forming that I like.
Additional Info:
I am an intraday scalper and short term swing trader of stocks & Futures using options and equity.
I focus on high volume momentum stocks in strong uptrends.
My time frame is between 5minutes to 5 days on most trades.
I scale into positions and scale out of positions as my targets are hit.
I always trail my stops after T1 is hit to reduce risk and lock in gains.
If my post is on a Weekly/Daily/240M chart the idea is a swing trade.
If my post is on a 60M chart or lower the idea is a day trade.
Day trades can turn into swing trades if the stock is strong.
All trades should be supported by market direction.
Treat my posts as trade ideas and not signals.
Traders must trade using their own back tested trade plan and rules.
Traders must plan risk first and profits second.
Happy Trading!
$ZM Zoom Video - Small Glimmer Of Hope
Bulls are really hanging on by their finger tips,
valuations became important and the darling stock of 2020
has suffered more than most as a result.
Tuesday action does however give a glimmer of hope as the stock reached
oversold levels and Bulls managed to cling onto
the gap support and the rising trendline.
Weak as that support is. it may be enough to give a relief rally in the stock .
Below that gap also offers a well defined risk level.
Longs could look to a move back to $370 - $375
The alternative is a drop to $300
ZM - buy the dip?More COVID news - new strain from the UK was found in Colorado.
That means it's EVERYWHERE...
Buy the lockdown play at its support. #tradeidea
$ZM (IV Rank 13%) - debit call spread $3.85
Risk: $385
Breakeven: $364
Max Profit: $615 (if above $370 by expiration)
+1 JAN 15 $360
-1 JAN 15 $370
ZM PutsZoom has completed a head and shoulders pattern after a massive run up. It's market cap is $100b, which over the long term is insane for what the company does, and even more crazy when you consider:
- Usage is expected to massive drop next year.
- Competition in this space is fierce against huge companies that could close the gap on making a better version of video conferencing any quarter now - Microsoft Teams, Google Meet, Cisco Webex, Uber ... etc
As a result, this is worth a shot. $290 Put at $3
Target of $230 - Reward of $57
RR of 19x
January/22 expiration.