As many of you are aware Zillow is in a major crisis after it was announced they will be selling 7,000 properties at a loss of around 10% per property with areas like Arizona, where 97% of the inventory being sold by Zillow is being sold at a loss. This is resulting in them stopping their IBuy program and laying off around 25%+ of their staff. Couple this with terrible earnings, it has created the perfect storm and a huge sell off to go with it. As of now, it is down 26% today alone and almost 50% just this past week alone. Despite this, however, Zillow is at an attractive price level and it showing indications of a possible bottom around $63.10 but this has yet to be confirmed until we see the price move above $65.21 in the short term. This looks like a good momentum play but I would be hesitant to take a long term position at these levels until I see a confirmed change in trend.