Zoom Video Communications Inc. (ZM) must be in a sweet spot right now. I want to relate a personal story before we look at the charts and indicators.
My wife and I belong to an active synagogue in western New Jersey. The board members have been on top of the rise in anti-semitic attacks across the country and last year got a grant to upgrade security at the building. More recently the board and the rabbi have been adjusting to the new health regulations in New Jersey. For example, last week the adult education class was a conference call and tomorrow's board meeting will happen with the help of Zoom.
It's a new world that requires adaptability.
Let's check out the charts of ZM even if you swear by fundamental analysis.
In the daily bar chart of ZM, below, we can see that prices do not go back a full 12 months. We do have enough price history for some plotting of the 200-day moving average line, which has a positive slope. The shorter 50-day moving average line crossed above the 200-day line earlier this month for a bullish golden cross.
The daily On-Balance-Volume (OBV) line shows a rise from December and the Moving Average Convergence Divergence (MACD) oscillator has been above the zero line from the beginning of 2020 but recently crossed to a take profits sell signal.