Zoom Stock Could Rally
| Mar 01, 2022 04:45AM ET
When we look at the Zoom Video Communications (NASDAQ:ZM) chart, we see its volatile past week, trading in the $126 range on the 23rd of February, but there was a selloff and a fall into the $112 which now acts as support.
On Feb. 25 it managed to climb back up to the $128 and during yesterday’s session it managed to extend the rally, reaching as high as $135 with the push of its earnings announcement. It was last found trading at the $132 range.
Zoom Video Communications had scheduled a quarterly earnings announcement yesterday. Earnings expectations were surpassed, with both EPS and Revenue estimations beating estimates.
Today we can expect a move towards the $135 price level. If however, it doesn’t manage to hold on to the current level then a move close to the $112 support can be expected.
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