Zoom Video Communications Inc. Stock Code ZM.NAS
Outlook
Price broke above a 3-month downtrend line on 14 January 2021 and moved higher to test the upper edge of the cloud on 16 February. However the first attempt to break above the cloud was not successful. Price is currently supported by the Conversion line. The corrective decline is likely to be supported by the Base line lower if the Conversion line fails to halt the decline. As long as price stays above this support zone and above the cloud, the trend is bullish. Lagging Span is above price of 26 periods ago but is currently below the cloud, hinting of a weak bullish trend. MACD is bullish. We think price is likely to move higher to the previous high of $483.83 in the next 2-3 weeks.
Strategy
$400.00 Buy
$483.80 Price Target
$365.90 Risk Management Stop
3 weeks Trade Duration
