The Long Investor

$ZS - WATCHLIST -

Added 2024-10-10 17:49:17 +0000 UTC

Consolidation can sometimes frustrate people because it can almost feel like an entirety when a price just stays in a tight range without taking a direction but this is when you zoom out

Clearly we can see that this consolidation period took place along the 0.618 Fib at $151, after a 3 wave move down for Wave 2

If the price is going to consolidate and build up strength anywhere for Wave 2, this is where you want to see it happen

Since then, the price has jumped up to the 200 Day MA which it is at now at $195, this level needs to hold as support next and I believe this can resume higher to complete Wave 3 at the 1.618 Fib, it may take 9-12 months for this to complete but moving in this impulse manner is all you need to see now and holding above the 200 Day MA.