Zscaler Inc. Stock Forecast
Zscaler Inc. stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Mar 31, 2023)
The Zscaler Inc. stock price gained 4.11% on the last trading day (Friday, 31st Mar 2023), rising from $112.22 to $116.83. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.71% from a day low at $112.48 to a day high of $117.78. The price has been going up and down for this period, and there has been a 10.75% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 606 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $220.52 million.
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The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Zscaler Inc. stock with a 90% probability to be traded between $102.84 and $138.78 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
ZS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, March 10, 2023, and so far it has risen 10.79%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Zscaler Inc. stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $120.07. On a fall, the stock will find some support from the short-term average at $112.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Zscaler Inc. stock
Zscaler Inc. finds support from accumulated volume at $113.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $5.30 between high and low, or 4.71%. For the last week, the stock has had daily average volatility of 3.30%.
Our recommended stop-loss: $111.36 (-4.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (ZS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Zscaler Inc. to open at $115.70, and during the day (based on 14 day Average True Range), to move between $111.87 and $121.79, which gives a possible trading interval of +/-$4.96 (+/-4.25%) up or down from last closing price. If Zscaler Inc. takes out the full calculated possible swing range there will be an estimated 8.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $119.24 (2.06%) than the support at $113.51 (2.84%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Zscaler Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Zscaler Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.583 Open Broker Account
Buy Candidate UpgradedPredicted Opening Price for Zscaler Inc. of Monday, April 3, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price April 3, 2023 | Current price |
|---|---|
| $115.70 | $116.83 (Overvalued) |
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Trading levels for ZS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 121.00 | 3.57 % | |
| R2 | 118.97 | 1.83 % | ||
| R1 | 117.72 | 0.763 % | ||
| Current price: | 116.83 | |||
| Support | S1 | 113.67 | -2.70 % | |
| S2 | 112.42 | -3.77 % | ||
| S3 | 110.40 | -5.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 134.13 | 14.81 % | |
| R2 | 119.81 | 2.55 % | ||
| R1 | 119.24 | 2.06 % | ||
| Current price | 116.83 | |||
| Support | S1 | 113.51 | -2.84% | |
| S2 | 113.02 | -3.26% | ||
| S3 | 104.66 | -10.42% |
FAQ
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About Zscaler Inc.
Zscaler, Inc. operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device secure access to externally managed applications, including software-as-a-service (SaaS) applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data ce... ZS Profile
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