Zoom has "fallen from grace", aided in part by the announcement that a vaccine could be near. It fell from 588.80 in October to a low of 366 on 10 Nov. Having fallen nearly 38% from it's recent high, I suspect "value" is starting to emerge again and that the 61.8% fib support level at 365 would hold.
A bullish divergence between price and RSI is also forming..Hence I am accumulate with initial stop loss @ 362.
However! Should this trade not work out, then I will be looking to re-enter near the gap close @ 325
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
A bullish divergence between price and RSI is also forming..Hence I am accumulate with initial stop loss @ 362.
However! Should this trade not work out, then I will be looking to re-enter near the gap close @ 325
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
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