Just After The IPO, Here's How I'm Playing Slack
InTheMoneyStocks.com | Jun 25, 2019 03:39PM ET
Zoom Video Communications (NASDAQ:ZM) has been one of the hottest initial public offerings of 2019 to date. The company came public on April 18, 2019 at $65 a share and was an instant success. ZM stock traded as high as $107.34 last Thursday before seeing some sharp selling over the past four trading sessions.h3 Watch The Gap/h3
Traders should note that the stock has a big gap-fill on the chart at $79.43 level. Very often, gap fills will serve as good support when tested. This particularly gap-fill is actually stronger than most because it comes from a failed bearish pattern, which often signals solid institutional sponsorship at that level. So traders should keep an eye on ZM stock around the $79.50 area.
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