The Best Stock Trades Now: Featuring Two Old and One New Friend
In this report, I'll discuss the high value trades I see going into next week.
First there’s ZM (Zoom Communications), the famous teleconference service.
By the time you read this, ZM will have announced its quarterly earnings on Monday after 4:00 PM EST.
But while there’s typically a great deal of volatility and uncertainty around earnings plays, I anticipate ZM is going lower by virtue of a number of bearish price patterns established over the long and short term.
To start, there’s a long-term head and shoulders price pattern as shown above.
But this could also be considered a double top (see below).
What’s more, wen price drops through the neckline, it confirms the bear pattern is in full force and effect. Sometimes the price retests the neckline too -- in this case, ZM formed yet another double top as part of the retest.
These bearish price patterns are the governing price patterns on the ZM chart. This means they govern the price going forward.
The most recent weekly bar was even a bearish key reversal -- yet another indication ZM will be moving down.
And that’s how we can conclude ZM should head a lot lower. While we can never know what the next news release (or earnings report) is going to include, historic trends, patterns and price action often act as catalysts to move the price along the indicated trajectory.
One final note: ZM has also formed an ascending, broadening price pattern which is also bearish.
Watch my full report to find out more. This video report is time sensitive. The markets will move and the opportunities revealed in thisvideo report will evaporate, if you delay.
This week I’m specifically looking at:
- 4 bearish patterns on this video conferencing stock and you should be shorting it now
- This stock just broke out to new highs and should be moving much higher - don't miss this! (starts at 3:43)
- It's not too late to buy this popular streaming service that's just about to break out of its long-time trading range
- There's now an Eve and Adam double bottom in place for this metal and I'm cautiously bullish
- Beware the overhead resistance on spot gold - it could kill the latest rally despite promising bullish price action (starts at7:59)
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