Today’s instrument is Zoom Video Communications Inc.‘s stock traded on the Nasdaq exchange under the ticker ZM. 

Looking at ZM ‘s chart, we can clearly see that it is in a downward trend, trading at around $82.50 during the pre-market hours. Last week it reported a better-than-expected quarterly EPS, which assist it to move up from its 52W low of $79.

Today we could expect it to test its resistance level at around $85 and if not able to pass it then it should fall back toward its support level otherwise it will climb toward its next resistance level.

(Click on image to enlarge)

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