$ZS Breakout targets for Zscaler
Zscaler reports Q3 EPS 7c, consensus 2c 16:07 ZS Reports Q3 revenue $110.5M, consensus $106.3M.
Read more at: thefly.com
Acquisition news
Zscaler announced it has acquired Edgewise Networks. The company said, "Edgewise Networks significantly improves the security of east-west communication by verifying the identity of application software, services and processes to achieve a zero trust environment which measurably reduces the attack surface and lowers the risk of application compromise and data breaches." Terms of the transaction were not disclosed.
Trade ideas
Nasdaq: ZS breaking out Daily Inverse H&SZscaler stock has established a bullish Inverse Head and Shoulder just above a previous gap (on Sep 10).
We have a potential target at the last highs achieved in July-August 2019.
In the two-hour timeframe, we have a nice breakout.
Entry: the current level at 69.96 (or the trader may prefer to put some limit order at a lower level just above 66.27).
Stop Loss: ideally should be below the left shoulder at 56.76.
Target: Would be the previous highs at 86-88.
Trade Journal: Long $ZS - 4/8/2020ZS has been showing some impressive relative strength lately due to it's impressive bounce from the low. Despite the large retracement, ZS has been in a state of sideways consolidation and formed a symmetric triangle on the 30m timeframe. This triangle is also forming right below the 52 week highs. If ZS breaks out, the impending move could be powerful.
Entry - 64.90
Stop Loss - 63.65
Target - 75






















