Zillow has been unable to rise more than 29.5% in the last year without undergoing a correction. Specifically, each rally of ~28% ends with a correction of at least 16%. Since the last bottom on May 8th, Zillow has appreciated 22%. Patiently waiting for rise to $115-118, marked by red box, for short sale.
Targeting return to the 50SMA, which has proved to be a...
Seems to be near decision where it was decided to be too expensive in the past. Lower highs; possible bearish Harmonic patterns on weekly/hourly. Or, could see a nice fake out at the next high. Interesting to see :)
As spring and summer comes around, more people will be looking for properties ahead of rising interest rates.
Look for Z to break out of consolidation pattern in the coming quarter.
Been long since last Friday @ Support - Will look to take profits at gap resistance ahead - If breaks convincingly then will look to sell at top trendline
Once again range-bound. Consolidating at $84 support for second day in a row - 5 min hammer formed. Anticipate a rebound to resistance at $87 or $88.5. Tight stop loss at $83.4.
Target $87
Entry $84
Stop Loss - $83.4
Positive earnings release AH yesterday. Selling off heavily today - hammer forming, anticipate price will begin to consolidate around $84 support and eventually rebound. Setting a tight stop-loss given the downward momentum. May adjust target based on price action.
Target - $87
Entry - $84.25
Stop-loss - $83
2/13/14 - 10:38am
Davide
