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  1. Home
  2. / Investing
  3. / Stocks

Zscaler Hit Our Price Target: Here's Where It Could Go Next

We're updating our bullish technical strategy for Zscaler stock.
By BRUCE KAMICH
Oct 22, 2021 | 02:45 PM EDT
Stocks quotes in this article: ZS

Zscaler (ZS) has rallied to reach our first price target of $305 from our Oct. 13 review and one Real Money subscriber is asking "what's next?'

Okay. Let's take a fresh look.

In the daily bar chart of ZS, below, we can see that things still seem in "good shape." Prices remain in an uptrend above the rising 50-day and 200-day moving average lines. ZS is not extended or overbought versus the 200-day line.

The daily On-Balance-Volume (OBV) line remains strong and the Moving Average Convergence Divergence (MACD) oscillator is still very positive.

 
In the weekly Japanese candlestick chart of ZS, below, we still see a bullish picture. No top reversal patterns. A rising market above the rising 40-week moving average line.
 
Bullish OBV line and MACD oscillator.
 
 
In this updated daily Point and Figure chart of ZS, below, we can see that the software is now projecting a tentative price target of $402.
 
 
 
 
Bottom-line strategy: Traders who are long ZS from our earlier recommendations should continue to hold longs. Raise stops to $270 from $250. The $402 area is our new price objective.
 
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TAGS: Investing | Stocks | Technical Analysis | Technology

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