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cryptoshort
May 29, 2020 2:27 PM

Zoom Short Term Perspective 180/200 Rejection Short

Zoom Video Communications, Inc.NASDAQ

Description

Zoom is eyeing to climb to 200 psychological level with a bearish flag and bearish divergence.

Trade with cautionary SL (7pts down) as two key profit-taking zones are approaching 180 and 200.

Comment

Zoom on weekly, notice post mid-May bearish candle, the next ATH is just +15%.

This is the bearish outlook and I expect healthy profit-taking and sell-off either at 180 or 200.

Comment

Attempting short with consolidation and a pullback to 170 and in a longer run 130s or lower. Note that it prints a new ATH. It may surge so I expect first SL to protect and short the next rise. Break below 200 will resume a pullback.
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