Elliott Wave Technical Analysis: Zscaler Inc - Monday, September 25

By Peter Mathers of Trading Lounge

Monday, September 25, 2023 12:19 PM EST

Zscaler Inc., Elliott Wave Technical Analysis

Zscaler Inc., (ZS): Daily Chart, 25 September 23

ZS Stock Market Analysis: We have been monitoring this stock as we were mainly looking for continuation higher after what seemed to be an initial move to the upside followed by a corrective downward move. At this stage the main scenarios are two. Either we just made wave (i) of {c} and we are looking to resume higher or else we’ve had a short wave {c} and we could be continuing lower.

ZS Elliott Wave Count: Wave (ii) of {c}.

ZS Technical Indicators: 20EMA as support.

ZS Trading Strategy: Looking for longs into wave (iii).

(Click on image to enlarge)

Zscaler Inc., ZS: 4-hour Chart, 25 September 23

Zscaler Inc.,Elliott Wave Technical Analysis ZS Stock Market Analysis: Looking for a potential three wave move into wave (ii) to then have additional confirmation of upside resumption. We currently stand at the 50% retracement, with invalidation below wave (i).

ZS Elliott Wave count: Wave (ii) of {c}.

ZS Technical Indicators: Between averages.

ZS Trading Strategy: Looking for longs after upside confirmation.

(Click on image to enlarge)