Elliott Wave view: ZD expect to pulling back in II

Elliott Wave Forecast Team ElliottWave-Forecast.com

Ziff Davis Inc ( ZD ) operates as a vertically focused digital media & internet company. It primarily invests in technology, entertainment, shopping, health & cybersecurity. It based in New York. It comes under Communication services sector & trades under “ZD” ticker at Nasdaq.

ZD continue weakness during global sell off in early 2020, while market started turning higher, but it made an intermediate low at $46.28 on 7/30/2020. After that, it started higher high sequence & made ATH at $135 in 2021 as impulse sequence & starts correcting it.

ZD – Elliott Wave latest daily view

It favored ended ((1)) at $66.09 high on 8/11/2020. Below there, it corrected lower in ((2)) at $58.11 low on 10/29/2020 as 0.382 retracement against ((1)). It started ((3)) as an extended wave & favored ended at $128.08 high on 7/29/2021. ((4)) correction proposed ended at $110.43 low on 8/19/2021 as 0.236 retracement against ((3)). Finally, it favored ended ((5)) at $135 high on 11/04/2021 as I red impulse sequence started from July-2020 low. While below there it starts correcting lower in II.

It favored ended ((A)) at $105.50 low & ((B)) at $114.43 high dated 1/04/2022. While below $114.43 high, it confirms the lower low sequence calling for ((C)) leg down towards $84.90 – $66.62 area to end II correction before it resumes upside or at least 3 swing bounce. We like to buy it in the blue box area when reached.

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Elliott Wave Forecast Team

ElliottWave-Forecast.com

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