Last chance for ZM bulls - will history repeat?If ZM cannot reverse and pull back up from here, we will see a nasty move to the downside, i'm long ZM but I need to see strength that ZM bulls could make a countermove in the history to push the price up and pass $475 in next 2 weeks??? We will see how it plays out by the end of the week.
ZOOM trade ideas
Zoom looking for a new ATHIt looks like the market favoured the last earning releases from the company this week and price has increased with volume which is a good indication of bullish momentum kicking in.
On the technical side we have an overall very strong bullish trend that has been under a correction during the past weeks. This corrective period formed a descending wedge pattern on lower volume that just recently was broken out to the upside and then retested. Thus probability is on our side for another bullish leg to play out.
targets here are the next Fibonacci extension levels from previous bull run. This being:
Target1: 1.27 fib extension at the 680$ area.
Target2: 1.618 Fib extension at the 810$ area.
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ZM short Double topTech and covid stocks are back on the chopping block. Zoom is flirting with a double top . Fell through its 50 and 100 man today and bounced off fib 387 today which also coincides with the yellow trend line.
Its currently trading between 404 fib and 387, I'll be watching and have my alerts set for a fall through 387. if 387 gives way the targets (redlines) are all fib support areas.
ZOOM- Bull Flag! 🐂After rising tremendous rates during the pandemic, Zoom got into a Cool-Down period.
Now that the bull flag was completed it is set again for a good rise!
Fundamentals:
Income statement: 2018-2019 --> +298.43% increase
2019-2020 --> +233.66% increase
Cash Flow: 2018 -2019 --> +164.24% increase
2019-2020 --> +195.90% increase
Big investors are keeping a HOLD opinion on this boy, while the street seems to catch-up on the Bull Flag.
Entry Point: In the short/Mid-term with the currently completed bull-flag we are keeping a BUY on Zoom. Long-term definitely a buy as well.
Also, the earnings are coming up next month on 03/01/2021 which will add some volume to the stock as well!