Can Zoom (ZM) Hold This Level?

Can Zoom (ZM) Hold This Level?

Posted On September 2, 2022 1:32 pm

Zoom Video Communications, Inc. engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products.

Take a look at the 1-year chart of Zoom (NASDAQ: ZM) below with added notations:

After putting in its 52-week low back in May, ZM is now holding that same low this week, roughly around the $80 level (blue). If the stock can manage to rally off of that mark again, a run back to $95 could be in the cards, at minimum. However, a break of the low likely signals lower prices to come.

The Tale of the Tape: ZM has key support area around $80. A trader could enter a…

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