ZBRA rejected MA200 and could step up. The Company has provided solid fundamental grounds for it in the latest EPS report.
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Green leading to Red top repeating
The initial red top is in the same position of the second green bottom, this is what the horizontal lines are used for
This pattern could continue, but for now we are just focused on the bearish wave currently being experienced from the red top
Almost like a Zebra pattern (green and red though instead of white and black)
We just finished 1-5 Elliot wave and waiting to complete ABC correction we forecast that finish of ABC correction will be around 356 zone, since there is a strong demand zone and we can see institutional candle in a lower time frames.
Entry: 356
Invalidation: 330
Target: 470
Ratio: 4.38
Unconfirmed double bottom. It needs to get over $243.33 for confirmation. RSI broke down the trend and 59.48 will be the resistance.
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ZBRA is highly rated fundamentally, and despite an ER miss in 18Q4 was propelled, after three years up into the upper band of a pitchfork channel. Another ER miss on Apr 30 caused a pullback, exactly to the centre (ie the lower band of the upper channel). The RSI pattern is reminiscent of Dec 18, and it is possible that the price will fully recover.
Allowing for...
ZBRA Overbought at resistance - shooting star forming on daily chart today. Targeting $184 earnings gap-fill by early March.
Note: Informational analysis, not investment advice.
In my quest to better understand trend following and TA, I am embarking on publishing more ideas with strict regard to TA first, followed by fundamentals. I am doing this because I usually do the reverse. Normally I will look at a company that I believe is undervalued or overvalued, and then I will look to the charts to see when a setup could be had. This time is...
ZBRA seems breaking down from a Macro frame Head & shoulder pattern. Today's break confirms the entry & our target is 25.13
On the option side we are looking for Aug2016- 50 put trading at $4.4
You can check our detailed analysis on ZBRA in the trading room/ Executive summery link here-
www.screencast.com
Time Span: 68:00”
Trade Suggestion Date: 5th Jul
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