Zoom Video Communications Could Be About To Breakout

#Zoom’s latest earnings report, it suggested that revenue growth in 2021 may be slightly less explosive than it was last year. Still, Zoom said it expects an increase in sales of 330% in the current quarter, which ends in January.

Zoom is selling about 5.15 million shares at $340 apiece, representing a 4.7% discount to its last close, according to a statement on Tuesday. The offering is expected to close on or about Jan. 15.

Zoom Video Communications closed up 0.900 at 357.710. Volume was 66% below average (consolidating) and Bollinger Bands were 30% narrower than normal.

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the bullish or bearish trend reflected in the lower ribbon.

Summary

Zoom Video Communications is currently 13.0% above its 200-period moving average and is in a downward trend.

Our volume indicators reflect volume flowing into and out of Zoom Video Communications at a relatively equal pace (neutral).

Our trend forecasting oscillators are currently bearish on Zoom Video Communications and have had this outlook for the last 11 periods.

Our momentum oscillator has set a new 14-period high while the security price has not.

This is a bullish divergence.

Overall, the bias in prices is: Downwards.

A black body occurred (because prices closed lower than they opened).

During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles.

During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.