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sphen
Apr 22, 2020 11:28 PM

Zoom Communications (ZM) - Wedge Play - Low Risk Short

Zoom Video Communications, Inc.NASDAQ

Description

Zoom Communications has retested and is respecting the upper band of the ascending wedge-line, we can confidently take a short position with low risk. NASDAQ:ZMhas had its fair share of negative publicity regarding recent data-breaches and is widely viewed as overpriced in terms of price-to-earnings.

Short Term Target: 132
Bottom Wedge Target: 116

Trade closed: stop reached

Comments
KenJi333
132 by next week? How about 116?
sphen
@KenJi333, Well, as you can see, this one didn't play out so well. I'm going to sit on the ZOOM sidelines for a bit and wait for it to come back down to the wedge, if we break back into it -- I'll be looking for good short opportunities.
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