📖I posted a trade idea on Zoom a couple of months ago, you should check that out on my profile before reading this post. Much of that analysis remains the same. I still have the same bullish technical outlook on Zoom. I spoke about how ARK Invest had been buying Zoom aggressively. They have increased their holdings by $168,000,00 since then. Zoom sits both in their ARKK and ARKW funds. They have bought Zoom pretty much everyday since they first bought in October 2020. Their holdings are now worth over $611,000,000.
📈 Interestingly, it appears that Zoom is trading between two parallel trend lines. Both of these trendlines are acting as resistance and preventing the price from moving higher, but now price is printing between these parallel trend lines. This may be due to the subjectivity of trading with trend lines -price action traders draw them differently. A nice green candle above the outer trendline could be what it takes for the stock to move higher.
🔎This is not financial advice. Always do your own research and due diligence. Always wait for directional confirmation before entering a trade.
📈 Interestingly, it appears that Zoom is trading between two parallel trend lines. Both of these trendlines are acting as resistance and preventing the price from moving higher, but now price is printing between these parallel trend lines. This may be due to the subjectivity of trading with trend lines -price action traders draw them differently. A nice green candle above the outer trendline could be what it takes for the stock to move higher.
🔎This is not financial advice. Always do your own research and due diligence. Always wait for directional confirmation before entering a trade.