A couple of bullish counts for this Nasdaq stock suggesting that while it may undergo a much deeper correction this is part of a continued uptrend. As always, time will give me an answer.
ZS recently broke out to all time highs. It has now pulled back to retest prior resistance, now support of those previous levels. Its an all-time high breakout retest. On the pullback there was decreasing volume, showing there isn't enough sellers to keep pushing it down beyond the support level. This pullback retest will now give ZS more momentum to continue...
I feel like although the market broke through resistance, we must remember that our lines are not concrete and work more like a rubberband. So the more they pull down on them the higher they will go after when the market is trending! Share your comments
We have an ascending channel on ZS with an entrance right now at 67.7$. MACD still bullish, we can expect a bounce of the RSI on the 40 zone. The SL can be tight at 65.5$ and TP at 78.6$ results in a good Risk/Reward.
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ZS
