The company’s revenues in the fiscal year ended 31 January 2021 increased 326%. Zoom’s growth got turbocharged in 2020 as the demand for its services spiked due to COVID-19 related restrictions. RSI values above 70 signal overbought positions. ZM stock is looking overbought with a 14-day RSI (relative strength index) of 69.6. The stock needs to break above the 200-day SMA convincingly for the uptrend to continue. However, the stock has been facing strong resistance at its 200-day SMA which is currently at $387.66. Zoom stock is trading above its 50-day SMA (simple moving average) and 100-day SMA which is a bullish indicator. Despite having bounced back from the lows, ZM stock is down 36% from the peaks and is in a bear market territory having fallen over 20% from the highs.Ħ7% of all retail investor accounts lose money when trading CFDs with this provider. As the economies started to reopen and consumer behavior started to revert towards pre-pandemic levels, stocks like Zoom came under pressure. However, the rally in stay-at-home stocks faltered amid positive progress on COVID-19 vaccine candidates. The stock went as high as $588.84 last year as investors poured money into stay-at-home stocks. ZM was possibly among the biggest beneficiaries of the changed consumer behavior as Zoom calls emerged as an alternative for physical meetings. Zoom stock outperformed in 2020 amid the rally in the so-called “stay-at-home” stocks. Zoom (ZM) stock has gained 20% over the last month and has managed to recoup its 2021 losses. The content on this page is for information purposes only. Please note that we are not authorised to provide any investment advice.
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