Why ZM Zoom Video could go higher by Friday!! ZM Zoom Video reached our Buy Area:
As you can see in the chart, Zoom Video Communications, Inc. (ZM) reached our price target!
Friday, before the close, at 16:29:37 someone bought 20300 ZM shares at $72.29 for about $1.5Mil.
But that`s not all!
Also before the bell i saw 9K calls worth $1.4Mil, with the following characteristics:
2022-10-21 expiration date (this Friday!)
$73.10 entry price
$75 strike price
$1.55 premium paid.
In order not to expire worthless, the shock should reach $76.55!
The stock was $72.29 at the close and i think it is primed for a comeback!
ZM Zoom Video is the 2nd biggest holding of Ark Invest with $1.03Bil invested their average entry price being $274.87! the stock is now only $72.29.
ZM stock lost 87.85% from its all time high. I think this could be The bottom.
On 8/23/2022 The Goldman Sachs Group set a Price Target of $122.00 for ZM Zoom Video.
My short term Price Target is the $106 resistance.
Looking forward to read your opinion about it.