Elliott Wave Technical Analysis: Zoom Video Communications Inc. - Monday, Nov. 14

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Zoom Video Communications Inc., Elliott Wave Technical Analysis

Zoom Video Communications Inc., (Nasdaq: ZM): Daily Chart, November 14, 2022, 

ZM Stock Market Analysis: Looking for a wave {iv} to be completed anytime soon. The move down from around 86$ to 70$ is a three-wave move therefore it cannot be wave {v}.

ZM Elliott Wave Count: Wave (c) of {iv}.

ZM Technical Indicators: Very far off the 200EMA and past the 38.2% fib retracement.

ZM Trading Strategy: Waiting for confirmation wave {iv} is ended. The invalidation level is at 96.4$.

Analyst: Alessio Barretta

Zoom Video Communications Inc., ZM: 4-hour Chart, November 14, 2022

Zoom Video Communications Inc., Elliott Wave Technical Analysis

ZM Stock Market Analysis: Here’s a closer to at the sub count for wave {iv}. It appears to be a regular flat. As we stand right between the 50 and 38.2% fib retracement that’s the ideal area for a wave four to end.

ZM Elliott Wave count: Wave (c) of {iv}.

ZM Technical Indicators: Close to the 200EMA and RSI is entering overbought territory.

ZM Trading Strategy: Looking for a down move to signal the beginning of wave {v} before considering shorts.


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