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dorfmanmaster
Oct 21, 2020 7:00 PM

ZScaler inside uptrend channel (Watching!) 

Zscaler, Inc.NASDAQ

Description

ZS has been behaving well inside the uptrend channel drawn. When we touch the upper part of the channel, we see a pullback to the lower segment line.

RSI analysis suggests, we have difficulty going above the 70 level, however, the chart remains bullish whenever the RSI has been over the 43 RSI. A break below 40 in the RSI would be short-term bearish. -----> conditional Bull

OBV has been trending upwards since the earnings gap-up we had May 29th. -----> Bull

50sma is lining up with the lower channel line, which could work as a support, and a buy entry with low risk.
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