ZOOM Some pressure left before recovering

ZM got rejected last week on the 1D MA50 and this is not an encouraging development. The reason is that it brings back memories of the last 1D MA50 rejection on September 06 2019. At that time, it took ZOOM three-four months before it started rising (we all know the parabolic rise more than made up for this 4 month waiting). Even the RSI is printing a similar pattern.

In my opinion in order to buy ZOOM, I want to either see the 1D MA200 being tested and hold or a weekly close above the 1D MA50. Next Target $800.



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