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  • Writer's pictureT. Livingston

Zoom: Ascending Into Earnings?

Updated: Aug 2, 2020

Zoom has been on a monster run since early 2020. Although I used Zoom frequently, it never came across my radar as a stock to buy until my brother mentioned it to me in late 2019. He remarked how much he like the product and how he felt it was an innovator in our modern society. The COVID-19 Pandemic made the world even more reliant on video conferencing tools, especially Zoom. I missed the breakout from the IPO base so I waited patiently for a pullback to buy off of. I bought Zoom in early April around $124 on its first pullback to the 50-day moving after it broke out from a big base. Zoom looks like it is forming an ascending base, with three lows, each higher than the previous low. Ascending bases usually form in strong stocks during bear markets on corrections. It is almost like the stock is trying to move higher but keeps getting pulled back due to general market forces. Without consulting a chart, it would be easy to think Zoom is extended due to its strong move from $70 to $179 in less than five months. However, on closer examination, we can see that Zoom may just be getting started. Please note that Zoom reports earnings this week and anything can happen. Risk management is and will always be my number one priority.

Full Disclosure: Zoom is a stock I currently own.

Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.

1 Comment

Jun 13, 2020

A true market leader

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