Zoom Video Communications Inc. stock (NASDAQ:ZM) is a nice example of a bearish market, characterized by persistent bearishness. It does not make sense to go long in this type of market.
The ADX period 14 is around level 20, which means the momentum in the market is not that negligible. The DM+ is above the DM-, which shows that bears are still in power. The MACD, default parameters, has both its signal lines and histogram below the zero line.
There is a Bearish Confirmation Pattern in the market and the downtrend is supposed to continue.
The outlook on ZM is bearish for this year and this price could reach the support lines at 85.00, 80.00 and 75.00 within the next several months.
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