andrew.berg
Long

ZU bottoming and looks ready for retracement

ZU was beaten to downside from $73.3 right to low $40ish. After two green days with nice close near highs it looks poised to make a move higher to next resistance at $44ish then we have down trend line resistance at $46.80, stop below $40.70ish low of the day makes sence.
Short float 38% could add fuel to potential upside move.
Reached first target, i took off some here at $45ish. My new point of reference is $43.17, holding above for the next session or so could lead us to the next resistance
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ncie two days continuation up move. Taking off some progit from the table. Broke up of down trend line could lead this to low $50ish area. I don't want it to see below $44.25
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Stock crashed on earning's EPS miss, new pivot point is $37.50. Will revisit above that for gap fill. That is why I don't hold stocks in fron of earnings, it is better to trade with options where your risk is premium paid.
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