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Tuesday, November 23, 2021

ZOOM: A One-Hit Wonder

I wrote about ZOOM's parabolic spike in my post of November 9, 2020...and predicted in a December 30 update that a drop and hold below 300 could see a further price decline.

Since then, ZOOM has made many attempts to bounce and hold above that level, but succumbed in September of this year, as shown on the weekly chart of ZM below.

It's dropped 66% since October 2020, and as long as its usefulness continues to decline as employees get back to work, I don't see it hitting major support until 100, or lower (to pre-pandemic levels).