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Zoom (ZM) – A Communications Software Platform

Updated: 17 Aug 2021

After a 47% run from May lows, it was to be expected that one of the last year's leaders would correct a bit. The stock found support on its rising 50MA and around $350 zone. On Friday it closed right around the downward sloping trendline which it broke the day before, and if it is able to stay above it, we could be on a way for a new leg up as the stock is still favored by institutional investors.

The downside is that all of the action occurs below the 200-day MA (yellow line), so these moves might be more prone to failure.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 68 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .