ZM trade ideas
A good discount price for Zoom Video Communications, Inc ZM!Zoom Video Communications INC with stock symbol ZM is at a major price level of $375.17 as of market close on December 24, 2020. Some thoughts on portfolio management and risk management for new traders and new buyers looking into trading this stock or hold the stock as a long-term investment. This is a good discount price for this stock; however, new buyers should be very careful because this correction may continue further. Buyers should watch for a true bottom before entering this stock. If the price enters the price level from $324.65 to $350.46, the stock may bottom in that price range or the stock may drop quicker and harder to a price level around $275. Remember the old saying, "Don't put all your eggs in one basket."
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Greenfield
Disclosure: Chart interpreted by Greenfield. Just a market opinion by Greenfield Analysis LLC for educational purposes. This is not a recommendation. Greenfield Analysis LLC has no investment in any of the securities mentioned in the article, and no plan to initiate a trade in any of the securities mentioned. Greenfield does not receive any compensation for this writing. Investment involves substantial risk. You should consider carefully before making an investment. Investment at your own risk.
$ZM Mini Head & Shoulders (Inside the Right Shoulder)The 2 months head and shoulders bottom I pointed out few days ago is now building another mini head and shoulders pattern that makes up the right shoulder in the bigger pattern. She is really trying to go. Expecting something to give here :)
ZM LongUptrend, EMA55/144 as support Zone
Wedge Breakout + revisit trend line
Entry 385
Stop 350
Target 500
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.
head and shoulders chart patternWith this formation, we would place a long entry order above the neckline.
Our target is calculated just like the head and shoulders pattern.
Measure the distance between the head and the neckline, and that is approximately the distance that the price will move after it breaks the neckline.
ZMZm brokw out of a decending wedge and was accumilationg again, It formed a inverse head and shoulder’s and also a cup breakout
Long due to descending triangle and small inverse H&S pattern. Long due to descending triangle and small inverse H&S pattern.
Target and Sl and R:R mentioned on chart
ZM Buyback is ComingI have a long bias on NASDAQ:ZM considering that this company has intrinsic retained value going into 2021 and should continue to have a nice valuation's as we use it in our day to working and school, furthermore I expect that it can pretty easily squeeze past 420 to higher prices as such low relative prices are often taken by market makers. My first target would be 447 followed by 520 and 559. These seem stretched but make sense as shares continue to be accumulated at these lower prices. ZM is at the lower bound of it's "COVID" range and it is evident the company isn't going anywhere in the near future. 383 is last weeks price where the most volume was conducted so I expect bullish action above this price and bearish action below.
💡$ZM 📈 My update on ZOOM💰+30%🏌️♂️📖I posted a trade idea on Zoom a couple of months ago, you should check that out on my profile before reading this post. Much of that analysis remains the same. I still have the same bullish technical outlook on Zoom. I spoke about how ARK Invest had been buying Zoom aggressively. They have increased their holdings by $168,000,00 since then. Zoom sits both in their ARKK and ARKW funds. They have bought Zoom pretty much everyday since they first bought in October 2020. Their holdings are now worth over $611,000,000.
📈 Interestingly, it appears that Zoom is trading between two parallel trend lines. Both of these trendlines are acting as resistance and preventing the price from moving higher, but now price is printing between these parallel trend lines. This may be due to the subjectivity of trading with trend lines -price action traders draw them differently. A nice green candle above the outer trendline could be what it takes for the stock to move higher.
🔎This is not financial advice. Always do your own research and due diligence. Always wait for directional confirmation before entering a trade.
ZM Close to End of Correction Zoom has a gap below to fill on the 30 min timeframe near $367, which conveniently is located at the 0.5 retracement. Watch for a bounce around that area for long calls. A break above $400 will led to the BIG gap fill above
Zooming Downtrend (short term)Zoom is looking to continue a downtrend until reaching and completing a falling wedge formation. Today I entered 2/19 $330 Puts @5.10 looking to exit around SP of $335-320
Be safe and good luck!
