Entry when spread comes in after the open if market strong.
Target just below the gap, which has very little price resistance for a potential 10% quick trade
Looking for a entry on a break above middle Bollinger Band and POC at approx $46.80
Indicators are all in bullish trajectory .
Stock is still 46 % down from its summer highs with some large gaps above.
21% short interest could be the catalyst for a nice rally
The average analysts price target is $63
Company profile
Zscaler, Inc. engages in the provision of...
Leader in cloud security. The company announced that the Zscaler platform is now distributed across more than 150 data centers. Investing 5% of the Deposit
Entry level $45.75 = Target price $51.74 = Stop loss $44.40
Todays upgrade
Zscaler initiated with a Buy at DA Davidson. DA Davidson analyst Andrew Nowinski initiated coverage of Zscaler (ZS) with a Buy rating and $55 price target. The analyst notes that the company is faced with near-term concerns related to the global macro backdrop and the potential disruption...
ZS had a gap up due to earnings back on March 1st. The stock saw a rise in price within a bullish price channel but was creating a bearish divergence with the RSI indicator. Even with the pullback, the price remained in the bullish channel until it broke down in mid-August.
Another earnings report in September led to a gap down that created an Island Reversal...
For the public record -- I've taken a LONG position in ZS (Zscaler Inc.)
My trade is technical, and I've taken the trade given I perceive a positive upward momentum breakout to be on the horizon for the stock.
My opinions and trade actions are not recommendations to anyone to buy or sell any financial instrument. I'm simply posting the executions of my trades...
