$ZM
Added 2023-05-20 11:49:08 +0000 UTC$ZM is my poster boy at the moment for trusting the buy zone and the importance of the levels I have set in it, this has moved very nicely here. Up now 15% since the bottom. Earnings will be out on Monday and the market appears to be quite confident about it, as we know, it is important to be cautious when this happens....we have seen what happened with $ABNB leading up to their earnings.
If $ZM post a flat or even slightly negative earnings, this will likely pull back and that is no problem and also healthy, what we will want to see is that it holds our blue lines at $65 or $63. This would mean that Wave 2 of Wave C will be complete, I will add the subwaves then too.
I know the vast majority of my members understand that the price action moves in waves, we never want to see something moving directly up with no pull backs, this is extremely unhealthy and this simple fact separates the experienced investors from the amateurs, the amateurs chase this, the intelligent investors know that pull backs and holding a higher support is showing strength.
Just like progress in your chosen field, there is positive movement, then set backs, you learn, you grow and then you progress further....stocks behave in the exact same manner. Share prices are extensions of human behaviour, they are remarkably connected.
