A long-time Real Money subscriber emailed me last night asking if I would take a look at ZoomInfo Technologies (ZI) . It seems the company offers sales and marketing, account management, prospecting, demand generation, and data management and custom solutions.
Let's check out the charts.
In this daily bar chart of ZI, below, we can see that prices were in a choppy sideways trading range from October to May. Since the middle of May prices have been in an uptrend. ZI is above the rising 50-day moving average line as well as the rising 200-day line. A bullish golden cross buy signal of these two averages can be seen in July.
The positive slope on the On-Balance-Volume (OBV) line tells us that buyers of ZI are being more aggressive with heavier volume being traded on days when ZI has closed higher. The Moving Average Convergence Divergence (MACD) oscillator is bullish.
In this weekly Japanese candlestick chart of ZI, below, we can see that we do not have a lot of price history to work with but what we have is bullish. Prices have been in an uptrend since last September. Prices are trading above the rising 40-week moving average line.
Both the weekly OBV and the MACD oscillator are bullish.
In this daily Point and Figure chart of ZI, below, we can see a downside price target in the $60 area. A trade at $69.45 should refresh the uptrend.
In this weekly Point and Figure chart of ZI, below, we can see an upside price objective in the $86 area.
Bottom line strategy: Today is my first time looking at the action of ZI. I like it and experienced traders could go long ZI on a shallow dip towards $65 risking to $60. The $86 area is our price objective for now.
