Zoom (ZM) Looking to Breakout after Extended Consolidation
I really like this opportunity from ZM here. The stock is cheap on many metrics and the market is pricing in a bearish case. If ZM can post even minimal growth in 2024, the stock should rip.
We've had almost a year of consolidation in this $60-$74 range and we're attempting to break out. It's just a matter of time.
I'm targeting ~$97 to fill the gap made in August 2022. After such a long period of consolidation, a breakout should cause some short covering and bring in traders on a technical basis. If we break below the range, it would signal a failure and I would cut my losses
High probability trade
Target: $97 (+34%)
Stop Loss: $58 (-19%)
- Sultan of Chart
We've had almost a year of consolidation in this $60-$74 range and we're attempting to break out. It's just a matter of time.
I'm targeting ~$97 to fill the gap made in August 2022. After such a long period of consolidation, a breakout should cause some short covering and bring in traders on a technical basis. If we break below the range, it would signal a failure and I would cut my losses
High probability trade
Target: $97 (+34%)
Stop Loss: $58 (-19%)
- Sultan of Chart
Never let the fear of striking out get in your way.
- Sultan of Chart
- Sultan of Chart
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
Never let the fear of striking out get in your way.
- Sultan of Chart
- Sultan of Chart
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.