ZOOM (ZM) Breakout amidst Covid19 Crisis
Zoom Video stock went up sharply for a couple of months after its IPO in april early last year, then consolidated for a long time. But the video conferencing software maker was delivering huge earnings and revenue growth. Zoom Video stock bottomed last October and really took off at the start of 2020, well before the coronavirus stock market crash.
As the coronavirus spread drives a massive shift to work-at-home, Zoom Video is getting a huge number of customers that may stay long after people start to resume normal work habits. Between mid Feb to mid March, it was consolidating between $105-$120 for a month. It did 2 breakouts and finally broke out of its $122 resistance level and now is at approximately $160. I think a retracement might be coming soon but that said, i think Zoom Video will overall do well especially if Covid19 continues.
Zoom Video stock surged 22% to a fresh all-time high Monday.
As the coronavirus spread drives a massive shift to work-at-home, Zoom Video is getting a huge number of customers that may stay long after people start to resume normal work habits. Between mid Feb to mid March, it was consolidating between $105-$120 for a month. It did 2 breakouts and finally broke out of its $122 resistance level and now is at approximately $160. I think a retracement might be coming soon but that said, i think Zoom Video will overall do well especially if Covid19 continues.
Zoom Video stock surged 22% to a fresh all-time high Monday.
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