Zoom (ZM) breaks out of a 4-year accumulation phase
By:TradingView
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ZM has been in a long-term downtrend since reaching its pandemic high near $588, followed by a prolonged sideways range between $55 and $98 since August 2022, reflecting a long accumulation phase
The stock has recently broken above the $98 resistance, signaling a shift to an uptrend on both the weekly and monthly charts. And as long as it stays above $98, the next targets are $127, $181, $260, $322, and $385 in the medium term.
Then any pullback toward $105 – $100 will be a potential for accumulation for medium-term investors, with a stop loss below $87.
The stock has recently broken above the $98 resistance, signaling a shift to an uptrend on both the weekly and monthly charts. And as long as it stays above $98, the next targets are $127, $181, $260, $322, and $385 in the medium term.
Then any pullback toward $105 – $100 will be a potential for accumulation for medium-term investors, with a stop loss below $87.
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