Hello fellow traders and padawans. I did a previous analysis on ZM where I suggested it formed a rounded top (links below). Zoom reacted from the rounded top neckline and rallied a few percentage points. It is struggling with the first fib retracement level for the third consecutive day, which I have anticipated on the previous analyses (seriously, check them out). It looks now that is forming an inverted cup and handle, which is a common pattern to be formed after a rounded top. Bulkowski even suggests them as "related patterns" on his book.
Anyway, keep this on your radar. If the pattern is confirmed there may be way more downside for zoom. Also, there may be smaller patterns within the inverted C&H. Remember: large patterns tend to win most of the times.
Safe trades!
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@Safe_Trades I have concern about ZM. Though, i tell you i am in it for the long position. hoping it bounces back as i think its a solid play for a 3yrs? but wondering if there is better places to put my money for the time being...thoughts? i dont have much...about 2k...trying to make it worth a while.
Safe_Trades
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@awisecrackin, hey my friend. Unfortunately I am not a financial adviser so it is not my place to say what you should do with your money. I would hate that you lose money by going off what I say. That said, if you are a long term investor, there are several ways you can grow your portfolio and minimize risks. One of them is to diversify. If you are very good at picking stocks (doing extensive research, looking at company's financial documents, etc), you can buy a few stocks and be fine. If you are not that person, you should look into adding a few more companies to your holdings. There isn't a magic number you should have. Some people say 10-20, some people say 20-30, some people say more than 30. If you are not Warren Buffet, going all in in one stock is just like gambling in my opinion.
After you invest the initial 2k in whichever stock(s) you pick, you should try to dollar cost average if you can (not financial advise, just an strategy for long term investors), meaning you buy the same amount of cash for every stock--even if it is just a little--with the same frequency (daily, weekly, monthly) so you get the best average of the market (buy specially when it goes down). Again, this is not financial advise but history shows that if you use this strategy you will be good in the long term. I hope this helps. Safe trades and good luck.
awisecrackin
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@Safe_Trades, right on. right i stand between 19-23 stocks at any given time. 2k is just my workable right now. i appreciate talking through possibilities and have no expectation of advice or what not. I just enjoy gathering research and different approaches to identify what fits for me based on what i know and my goals.
This market is making me a little mad. not sure what to expect given some very combatting variables.