Zoom might have reached the bottom of their sell off, however we should be cautious entering positions with the current set up.
We have the bears and bulls fighting for dashed green trendline. So far, the bulls have been able to buy up the green zone, however, even though we see a small uptrend over that last few days. We have a negative delta divergence on the cumulative delta volume which indicates buyers are getting weaker and weaker.
This price is really reactive to news and that could be what the stock needs to blow through some resistance.
Technically this chart makes me feel uncomfortable picking a direction either way so I'm going to remain on the sidelines until we get clarity.NASDAQ:ZM