Zscaler (ZS): Breaking Through the Cloud

Zscaler (ZS):

At the American cloud company Zscaler, we have completed the first 5-wave cycle at the level of $376.11, have since developed Wave II at $84.93, and are now in the overarching Wave III, which should naturally extend far beyond our Alltime High, thus above the current Wave I to also be valid. Currently, we are in the first 5-wave impulse upwards to complete the Wave (1).

We have ended the subordinate Wave 3 here precisely or almost exactly at the level of 161.8%, have since formed a stronger downward trend, and are now in the conclusion of Wave 4, and as can be seen on the smaller timeframe, our entry point is already indicated for Wave 4. This should reach between 38.2% and 61.8%. If we should fall below that, we should also reconsider this bullish scenario, but we would set a market entry here as we have already fallen into the buying zone and expect a rise above Wave 3, so above the level of $259.6.

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Zscaler has not yet shown any reaction to our entry at Wave 4, continuing a very bearish trend that seems to persist. At this point, all we can do is wait to see how the market responds to yesterdays Federal Reserve Chairman Powell's speech today and in the coming days. If we continue to see a decline, we may encounter a stop. We must therefore wait and see whether Zscaler can recover or not. The maximum level for a Wave 4, according to the rules, is at 162.53 cents, which would be quite significant for a Wave 4, as our last retracement at 61.8% is typically considered the maximum level for a Wave 4. Nonetheless, scenarios that seem less likely or that have a low probability do occasionally occur. We may be witnessing such a scenario here. We will see how it unfolds. If we are getting stopped out we would be getting another chance for a huge RR trade on the $162.53