ZM reversal

19 Kas 2020

Zoom reversed course yesterday either due to the extension of the current USSOTH to another term, or the reinstatement of the closure of all on-campus learning in NYC schools.

Stock price bounced off the 100 MA with an RSI of 42.85 and the MACD looking to cross over the signal line. And the gap down on Nov 6 is now serving as the new resistance which falls on the .6 retracement level and the Oct 1st pivot as support.

This is just my personal opinion and should not be taken as a recommendation to buy or sell.

19 Kas 2020

İşlem aktif

I actually took a position later in the afternoon when the news broke and I saw it start to trend up at $413.69 with my stop loss at the 200 MA ($398.84)

20 Kas 2020

Not

I took profit on 20% of my position to be conservative and sold call options against the rest which expires tomorrow with a 420 strike price. May redo these steps aagain tomorrow if they do not get assigned .

21 Kas 2020

İşlem elle kapatılmış

Due to the short trading week next week and ZM getting off to a strong start this morning I decided to close out this position and take a wait and see approach. In order to take profit I had to do the following:
1) Close my short calls at a -48%
2) Limit sell half at $432/share
3) Trailing stop of $7 which got triggered and sold at $436.16/share
closing position with a 3.2% gain