ZM – Bullish Breakout & Bullish EMA CrossOrder pending. Waiting for fill.
Trade Entry
1/24 – Put Credit Spread. 70/74 Strikes. Credit of $2.00 or more. Risk/reward is same $200.
Stop at $68. Exit at 50% profit, $74 or $78 last resistance, or see if hold close to expiry.
For owning stock versus options, I think this is a good entry price with 6-month time horizon or greater.
I think ZM will be above $74 by 1/24 based on chart. Starting with single options spread until ZM provides more bullish data.
Chart Details
Bullish flat bottom wedge pattern.
Price breakout bullish.
Bullish 10WeekMA price cross and EMA bullish cross.
Price is about where it was during IPO. Great company. Good long term value.
About Me
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I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
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Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, CRWD Bullish short term.
