Zoom Video Communications Inc. Stock Code ZM.NAS
Price broke above a 3-month downtrend line on 14 January 2021 and is currently supported by Conversion and Base lines. The corrective decline has also stop just above a strong and big gap support zone. As long as price stays above this support zone and above the downtrend line, the trend is bullish. There was also an Ichimoku reversal seen earlier at the Double Bottoms at $331.10 and $336.10. MACD is bullish and a bullish crossover was seen. We think price is likely to move higher to the previous high of $483.83 in the next 2-3 weeks.
$483.80 Price Target
$355.90 Risk Management Stop
3 weeks Trade Duration