Zoom Video Communications, Inc. stock price took a fall of -16.69% on Tuesday

StockInvest.us, 2 years ago

Zoom

The Zoom Video Communications, Inc. stock price fell by -16.69% on the last day (Tuesday, 31st Aug 2021) from $347.50 to $289.50. During the day the stock fluctuated 2.63% from a day low at $288.30 to a day high of $295.87. The price has been going up and down for this period, and there has been a -16.22% loss for the last 2 weeks. Volume has increased on the last day by 27 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 34 million shares were bought and sold for approximately $9.96 billion.

On August 31, 2021 "Bank of America" gave "$480.00 - $385.00" rating for ZM. The price target was changed from $293.06 to 15.7%.

Given the current short-term trend, the stock is expected to fall -2.24% during the next 3 months and, with a 90% probability hold a price between $283.02 and $386.59 at the end of this 3-month period.

Zoom

There are few to no technical positive signals at the moment. The Zoom Video Communications, Inc. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $333.96 and $358.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, July 06, 2021, and so far it has fallen -27.83%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $7.57 between high and low, or 2.63%. For the last week, the stock has had a daily average volatility of 2.93%.

Zoom Video Communications, Inc. is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Zoom Video Communications, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.

Check full Zoom forecast and analysis here.