ZOOMing to the downside
ZM enjoyed this pump from the coronavirus. This attention isn't always good because if you have a bad product with alot of users, it will be hard to recover back to that number of users after the virus is over.
During the two peaks within 4 days of each other, we have a strong green and red candle. The buying has steadily decreased since then (blue rectangle). RSI is diverging with overbought signals.
The bubble is popped. We're now forming an inverted H&S with a neck resistance line of $130. I would consider shorting there as the last chance to get in before the big drop. Look for a neutral or bearish candle in next few days.
During the two peaks within 4 days of each other, we have a strong green and red candle. The buying has steadily decreased since then (blue rectangle). RSI is diverging with overbought signals.
The bubble is popped. We're now forming an inverted H&S with a neck resistance line of $130. I would consider shorting there as the last chance to get in before the big drop. Look for a neutral or bearish candle in next few days.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.