Today’s instrument is Zoom Video Communications Inc.‘s stock traded in the Nasdaq exchange under the ticker ZM.
When we look at the ZM ‘s chart, we see its volatile past week, trading in the $126 range on the 23rd of February, but there was a selloff and a fall into the $112 which now acts as support. On the 25th it managed to climb back up to the $128 and during yesterday’s session it managed to extend the rally, reaching as high as $135 with the push of its earnings announcement. It was last found trading at the $132 range.
Zoom Video Communications Inc. had scheduled a quarterly earnings announcement yesterday 28/02/2022. Earnings expectations were surpassed, with both EPS and Revenue estimations beating estimates.
Today we can expect a move towards the $135 price level.
If however, it doesn’t manage to hold on to the current level then a move close to the $112 support can be expected.
(Click on image to enlarge)
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