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Zoom (ZM) Coiling in Tight Wedge Forms Inside Week

Zoom (ZM) Coiling in Tight Wedge Forms Inside Week

by | Aug 1, 2022 | Chart SetUps

Zoom Video (ZM) shares are coiling in a tight wedge pattern and formed an inside week candle as well as inside day Friday. A trigger move above 105.50 can likely see a quick rally to 111 monthly VPOC and then 115.50 value high and YTD VWAP as a cluster of resistance builds in that area. The stock is building a longer bottoming base since April and has shown relative strength since the May lows near 80.