Zoom Video Communications stock (NASDAQ:ZM) is essentially a bearish market. This market has been a disappointment to investors, and they may lose more money because of the weakness in the market, which will hold out long enough this year.
Since December 2020, until date (May 2021), the general movement in the market has been bearish. Rallies have been short-lived and they have invariably proffered sellers with opportunities to sell further whenever price is dearer.
ADX period 14 is below the level 20, which means that the momentum in the market is not currently strong. However, the DM- is above the DM+ (though slightly). That shows that bears are still a threat in spite of the current bullish effort.
The MACD default parameters, has its histogram above the zero line and its signals lines below the zero line. The histogram will eventually drop below the zero line; and the formation of both ADX 14 and MACD will form a Bearish Confirmation Pattern again.
The outlook on ZM is dismal for this year, and price is projected to reach the demand zones at 300.00, 250.00 and 200.00.
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