Zoom Dips and Rallies Again

PUBLISHED: May 09 2020 @ 06:22 | Comments (0) | More info about Azeez Mustapha

Zoom Video Communications Inc. shares (NASDAQ:ZM) have begun to rally after a recent dip. The market is generally bullish and the bullishness has been on for a very long time: only that it is more pronounced right now.

From December 2019 to April 2020, price went upwards. It pulled back in April and reached new heights later. The current style is now higher highs and lower highs. The market dippped towards the end of April and has started rallying in early May.

Price is currently above the upper Trendline, and as well, the RSI period 14 is above the level 40, close to the level 60, and may soon surmount it. The signal in the market is bullish.

Thus the ZM may reach the resistance levels at 160.00, 180.00 and eventually 200.00 within the next several months.

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