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Published: 2 months ago
Author: BullishCharts

Zoom Video: the Professional Choice | $ZM

The employment market continues to tighten more and more each year, leading to skilled workers becoming an increasingly expensive commodity. On the opposite side of the spectrum, the work environment continues to evolve rapidly into the new decade. No longer is it a necessity to commute one hour to and from work; only to sit alone within a generic workspace, such as a cubicle or an office. The evolution of high-speed broadband has changed the lives of many in search of a better work life balance. No longer are workers hindered by family, location or commitments to apply for their dream job. Companies now see the advantages of working from home, as it reduces costs significantly for both parties. zm

Technology has also given companies the ability to entice stay-at-home parents to rejoin the workforce. This is all made by possible by innovations, like the one’s provided by Zoom Video Communications, Inc. (NASDAQ: ZM). Home and office video conferencing has been taken to a much higher level , and for a very affordable price.

Fundamentals to Consider:

  • ZM‘s 52-week price ranges from $59.94 – $107.34.
  • Current price $72.83 offering considerable upside potential.
  • Market cap is just over $20 billion, however this may make it an appealing target for some of the mega tech companies.
  • Sentiment in the market is changing towards ZM, the stock suffered from heavy selling, which capitulated after the December earnings report and now buyers have taken control.

Zm Chart 2020 01 08

A Bullish Reversal is Underway in ZM and there Appears to be More Gains Ahead:

  • Strong reverse off support.
  • Crossed Point of Control (red line) with ease.
  • RSI, Momentum and On-balance Volume indicators all in a very strong uptrend.
  • MACD is a buy signal as it crosses above Zero line.
  • Histogram ticking higher.
  • ZM crossed above first Fibonacci retrace level (.236 | $71.92)

Targets to Consider:

Short-term       –   $76.00 – Horizontal resistance.

Medium-term  –  $85.00 – Fibonacci and horizontal price-level.

Longer-term    –   $42.21 – Golden pocket resistance.

Entry Point:

ZM has just broken above .236 Fib level and while the market remains strong, it looks like it may be a very good time to enter.

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