ZM Communications has received plenty of negative if publicity over the last couple of weeks. We can see here that technical's have made a second rejection off the upper band signaling a short position setup.
Stops should be placed above the upper band, profit taking can take place at lower band, or hold to see lower band rejection.
Stops should be placed above the upper band, profit taking can take place at lower band, or hold to see lower band rejection.
Comment:
Zoom Communications (ZM) - dropped over 4% including after-hours trading. This trade looks to be headed into the right direction. With price-to-earnings ratios being completely unjustifiable ZM has one of the highest potentials to make a large move downwards. As the economy reopens, the need for zoom will slightly decrease, this should also be taken into consideration.
Trade closed: stop reached