Zscaler Inc. (ZS) has had a big run the past five months and now with earnings for the fiscal fourth quarter anticipated for release after the close of trading Wednesday and the broader market seeing increased volatility, this seems like a good time to review the charts and indicators of this cloud-based internet security company.
We last looked at ZS on July 6 and wrote that, "Continue to hold longs that were previously recommended. Raise stop protection to a close below $106 from $95 now. The $157 area is our new upside price target." Prices spiked to $163.80 the other day so traders could have booked nice profits at $157 and higher. Now what?