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May 23 Chart of the Day - Zoom

Zoom (ZM) has recently approached what we like to call a line in the sand support level and shied away from it.  Does that mean that price can't go below it?  No, because price can do whatever it wants at anytime, on any chart, for any reason.

Well off its all time $588.84 from October 2021 the bears have been clearly in control.  But has that changed recently, or is this simply a relief bounce before more downside action that could create new all time lows.

Take a look at the charts and let us know what you think.  

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