Zoom Video Communications Inc (ZM): Price Now Near $350.75; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for ZM

Currently, ZM (Get Ratings)’s price is down $-0.45 (-0.13%) from the hour prior. ZM has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

ZM ranks 384th in terms of today’s price percentage change out of Business Services stocks.

ZM’s Technical Outlook on the Daily Chart

At the time of this writing, ZM’s price is down $-3.45 (-0.97%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as ZM has now gone down 4 of the past 5 days. As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows ZM’s price action over the past 90 days.

ZM

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ZM: Daily RSI Analysis

  • ZM’s RSI now stands at 31.5018.
  • ZM and RSI both have consistent trends, as they are both heading down.

For ZM News Traders

Investors and traders in ZM may be particularly interested in the following story that came out in the past day:

Why Zoom Video Communications Was Down on Monday

Zoom Video Communications (NASDAQ: ZM) was trading down by over 2% in late afternoon action on Monday. On Sunday, Zoom announced that it has signed a definitive agreement to acquire cloud-based contact center software developer Five9 (NASDAQ: FIVN). Zoom said the transaction is valued at $14.7 billion.

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