ZM back on track?
ZM has been holding around 400-410 since the drop after last week’s earnings report. I see that as a correction bringing ZM back to the channel from Feb to Sept. Looking at the 30 minute chart since December 1 shows steady buying around the 400-410 range, pointing to steady accumulation. My prediction is without any shocking good/bad vaccine news or other exogenous shocks, ZM will continue on an uptrend. I think institutional investors see value in Zoom’s customer base (small-medium businesses). Just as Amazon was once just a bookseller, Zoom can become more than just videoconferencing. Happy to hear everyone’s thoughts.
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