Yesterday I said I’d be keeping an eye on ZM, looking for aftershocks. Anyone who watched the stock wouldn’t have been disappointed — the aftershock was as big as yesterday’s move.
Here’s the chart:
There was a false start with the first signaled entry. Getting out with a handful of cents made it technically a winner, but I’d count it more as a break-even. Any effort to arrest the fall failed though, and the price soon headed south again.
This time that drop was much more impressive. I had my finger on the trigger after the previous false start, so as soon as momentum dried up around the 84.00 mark, I was ready to get out.
Combined, this ‘aftershock’ made slightly more than yesterday’s original move, although to be fair there wasn’t the afternoon action that we saw on Monday. ZM will remain on the list this week.