5ZM trade ideas
Almost A BuyAfter an earnings defeat, Zoom is almost a buy again. There are many indicators that explain why I believe it still has room to fall.
I see Zoom hitting or nearing a previous low of $366. Here are the indicators that support my thesis.
MACD: Shows weakening bull strength giving the bears more opportunity to take over as the stock continues to trend down.
Divergence+: Shows no sign of bearish divergence and I believe the stock still has room to fall before retesting a new support
Bollinger Bands: Show that the stock is still at a strong buying point, but trending downward which supports the value to decrease
Kurotoga Cloud: With the candles just falling below the cloud, which shows support and resistance, we can see that a bear cycle is about to start.
Once MACD starts to trend up and bullish divergence grows, I will be buying in.
What’s next for ZM Just to put out what I have on $ZM after my recent prediction that proved 100% correct. I am now watching it for possible entry. Negative COVID news is starting to make way just as much as vaccine news. And today $MRNA took a big hit (down -10% give or take). And some of what the media iterated as the cause for $ZM drop in the first place was positive vaccine news.
On the TA side, I identified what I believe is the major trend and it’s currently at the major support, with what looks to be a cup and handle pattern.
Bottom line I see a a lot of space for it to fill on the upside. And what can also make a long position credible is the fact that they did crush earnings after all.
ZM LongIf this is consolidation in uptrend, the next target is FIB#1.6 = 723
PlanA: Trendline Break + revisit
Entry 413
stop 385 below up trendline
Target 585
PlanB: Demand Zone below Consolidation
Entry 370
stop 340
Target 723
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.