Hey guys,
I have been watching ZM for a while now, trying to find a decent short entry. This looks pretty promising. RSI is overbought (on every time frame) and is producing a bearish divergence. Also, we are climbing in a tight ascending wedge. Volume is also decreasing. I am not sure who is actually buying at these levels, but going short seems like a far less risky trade. And anyways, this needs a huge selloff to attract some new buyers! Oh, and the insider sells on this stock are quite massive lately. If I was the CEO, I would be selling at these levels also... He just made $35,000,000 selling 140,000 shares at $252.00 to a bunch of suckers. Anyways, Happy trading as always!
- Matt
I have been watching ZM for a while now, trying to find a decent short entry. This looks pretty promising. RSI is overbought (on every time frame) and is producing a bearish divergence. Also, we are climbing in a tight ascending wedge. Volume is also decreasing. I am not sure who is actually buying at these levels, but going short seems like a far less risky trade. And anyways, this needs a huge selloff to attract some new buyers! Oh, and the insider sells on this stock are quite massive lately. If I was the CEO, I would be selling at these levels also... He just made $35,000,000 selling 140,000 shares at $252.00 to a bunch of suckers. Anyways, Happy trading as always!
- Matt