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Zoom Video Communications Inc.‘s stock in a downward trend

Today’s instrument is Zoom Video Communications Inc.‘s stock traded on the Nasdaq exchange under the ticker ZM.

Looking at ZM ‘s chart, we can clearly see that it is in a downward trend, trading at around $82.50 during the pre-market hours. Last week it reported a better-than-expected quarterly EPS, which assist it to move up from its 52W low of $79.

Today we could expect it to test its resistance level at around $85 and if not able to pass it then it should fall back towards its support level otherwise it will climb towards its next resistance level.

Chart

Author

AAATrade Team

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

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