5ZM trade ideas
ZM Will be available under $300ZM clearly changed how we communicate during COVID. Just the way people mentions GOOGL for searching Zoom has become synonymous for video conferencing in professional. It clearly had its run way ahead of its time pulling forward much of that growth in its stock price. This would be the time to stop the sprint and take a pause for consolidation. So far major gaps have been filled. Now $300 would be a major touchdown target and enter consolidation phase to 290-275 range. Bottom picking can be done when 250 floor has been tested and the growth in earnings continues.
ZM is about to double bottomZM is about to test a strong support at 310$ that as been touch recently 08/03/2021, it may create a double bottom
The stock price is currently filling a gap create 01/09/2020 as it suppose to
ZM is in a downtrend and he need to (IT Will!) touche the down green trend line started from is 588$ ATH 19/10/2020
I think ZM need a catalyst to run back up
It is a the bottom Bollinger Band, the RSI is a around 35 if the RSI down to 30 i its a very strong BUY BUY BUY
The potential Upside is huge
The worst case scenario is that it break the 310$ fall to 230
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Day Trade 1-5 ZoomHere were my notes "RSI looked good, below 100 and 200 EMA, hitting a support, waited for some reversal, still looked a bit questionable and missed a couple times on stop limit buy i believe due to volatility and it triggering above stop buy even though i put in for order when it was below it spiked up, did good to wait it out"
ZM - Getting ready to rally again ?Since price topped October last year, I've been on the sideline with my clients and put this one back into our watchlist a few weeks ago.
Now it seems about to have finished a 3 waves correction wherein wave B is a Triangle.
Triangles precede the last actionary wave in the pattern of one larger degree.
Simply put, it signals that the end of the ABC correction comes after one more move to the downside, in this case after wave C.
This gives us a reason to look for a reversal point.
That reversal zone might just have been found as price bounced off the green 52week EMA and the orange anchored VWAP.
Notice also that price, although it went a bit below the 100% projection of wave C compared to A, is now holding above it.
Same for the 23.6% retracement level of wave 3.
So, for now, as long as price doesn't go below 309, I will look to buy and hold this one towards 441 at first followed by the ATH at 588.
If price does go below 309, I won't dismiss my bullish view but I will stop buying until I have reasons to believe that red wave C ended and price bounced off a potential reversal zone.