Did You Capitalize On Our Zoom (ZM) Call?
by Mike Paulenoff
June 8, 2020 • 8:34 PM EDT
With Zoom (ZM) at a price of 202 and heading into its earnings announcement Tuesday June 2, Mike Paulenoff noted in his Live Trading Room:
"Unless ZM breaks and sustains below 190.00, it still has unfinished business on the upside into the 228-232 target zone, which is the next zone from where the bullish intermediate-term pattern should stall, and roll over into a potentially significant correction."
ZM closely followed Mike's preferred pattern scenario in reaction to Tuesday evening's stellar earnings report. The stock raced up to make a marginal new high (after hours) at 228.90, right in his projected optimal target zone, after which it pivoted to the downside and nosedived to Friday's low of 196.10, closing the week at 207.60.
Where is Zoom headed next?
Sign Up for Mike's Live Trading Room at MPTrader to find out.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts
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