The Long Investor

$ZM

Added 2023-08-03 11:40:08 +0000 UTC

$72 could not hold but there is still a lot to be bullish about here.

The pull back stopped exactly at the 200 Day MA and the bottom of the bullish wedge trend line, which happened to be exactly at the 0.5 Fib too.....these are three important support levels and they all intersected each other and the price did hold support here.

The PM is showing flat here but there is no denying that this is on a knifes edge, like a lot of stocks in the market right now.

I have added again under $72 because I like the set up and like I said yesterday, I have committed to $ZM and I am holding regardless.

I care little about this pull back, my only aim is to acquire more stocks at cheaper prices.....I have evaluated all of these stocks before I bought them and if I was happy to buy at $72, I am happy to buy here.

Contingency plan:

The 0.618 Fib is just below at $68.50, holding here or above the larger wedge at $67.80 could offer support if the price loses support where it is at now.