nklyne

ZM - Bearish Divergence

Short
NASDAQ:ZM   Zoom Video Communications, Inc.
ZM has done very well during the current bear market/crisis however this kind of parabolic rise and panic buying usually culminates in a grand correction. Think TSLA and BYND as prime examples.

ZM is currently well into oversold territory and showing a bearish divergence on the RSI. A retest of the 10 EMA and 0.618 FIB from current levles would yield close to a 21% drop so this one is worth keeping an eye on for signs of weakness.

Warren Buffett famously said "Be fearful when others are greedy and be greedy when others are fearful", we would do well to heed such advice.
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