Zoom has been nothing short of miraculous during the pandemic but we are seeing signs that a massive selloff is about to occur.
Up over 200% since February with major RSI divergence and weakening momentum, I expect it to drop back down to its lower trendline formed in April. Risk/Reward is still not that good, but if you want to hedge your portfolio, placing some put options in next week is not a bad idea. Of course be conscious of entry which a rejection off of the 21 EMA would provide a good entry point.
As always, do your own research and formulate your own theories. I am not a financial advisor and this is not financial advice. Good luck!
Up over 200% since February with major RSI divergence and weakening momentum, I expect it to drop back down to its lower trendline formed in April. Risk/Reward is still not that good, but if you want to hedge your portfolio, placing some put options in next week is not a bad idea. Of course be conscious of entry which a rejection off of the 21 EMA would provide a good entry point.
As always, do your own research and formulate your own theories. I am not a financial advisor and this is not financial advice. Good luck!