ZoomInfo Technologies Inc Keeps Tumbling, Here’s The Trade
ZoomInfo Technologies Inc (ZI) is another leading cloud-based analytics stock that has fallen sharply over the past month. This stock topped out on November 19th, 2021 at $79.17 a share. Since that peak, the shares have tumbled and now trade at $55.94 a share. The stock is also trading below it’s important 200 daily moving average. This puts the stock in a very weak position on the charts and often signals further downside in the near term.
The next major support level for ZoomInfo Technologies Inc (ZI) stock will be around the $49.00 area. This major support level is where the stock broke out in mid-July 2021. Often, stocks will have excellent support when prior breakout levels are retested. This key support area also matches up with a major retrace level which should add strength to the $49.00 support level. At this time, this area should be a very good long trade setup.
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