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  1. Home
  2. / Investing

Zoom Video's Charts Are in Focus, but You Might Not Like What You See

It looks like ZM is still working on its 'phoenix' rally....
By BRUCE KAMICH
Feb 28, 2023 | 11:43 AM EST
Stocks quotes in this article: ZM

Shares of Zoom Video Communications (ZM)  are firmer Tuesday morning on the heels of a solid outlook and earnings posted Monday night. Also, Piper Sandler raised the price target for ZM to $78 per share from $75. Let's connect with the charts and indicators.

 
In this daily bar chart of ZM, below, I can see that prices are still struggling to make a durable bottom formation. Prices trade below the 200-day moving average line and are testing the 50-day line from above. Trading volume is not indicating increased or growing investor interest. The On-Balance-Volume (OBV) line is weak and the Moving Average Convergence Divergence (MACD) oscillator is pointed down towards the zero line.
 
 
In this weekly Japanese candlestick chart of ZM, below, I do not find a positive picture. Prices are in a longer-term downward trend. ZM trades below the bottoming 40-week moving average line. The weekly OBV line is in a longer-term downward trend. The MACD oscillator is bearish but improving.
 
 
In this daily Point and Figure chart of ZM, below, I can see that the software is projecting the $85 area as a price target.
 
 
In this weekly Point and Figure chart of ZM, below, a target of $121 is shown.
 
 
Bottom line strategy: Overall it looks like the charts of ZM have not yet gotten their act together.
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TAGS: Earnings | Investing | Technical Analysis | Software & Services | Analyst Actions | Telecom Services

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