TRADING TIPS

ZM Target After Pullback

Hubert Senters here. In yesterday’s video, I was talking about future targets for Zoom. ZM is the stock symbol. So pullback today. How do you deal with that situation? There are a couple of different ways. First, I’m going to move these lines and show you the targets that I came up with yesterday. And we went from this low to that high back down to this low. Pretty much the same. Pretty close to the same numbers.  So what we’re looking at is $237, $261 and $300. Now, unfortunately it pulled back. And a lot of times in these videos I’ll point out something like this like Rough Rice. In our member’s video we’ve been recommending Rough Rice for several weeks now because Rough Rice is vertical going up. You don’t want to do it after it’s up this much and then get long Rough Rice. That’s a bad idea. You do have to time this stuff a little bit. So for Zoom same situation. It’s got a nice little vertical move. This will be the next target and then wait for a pullback. Now, here’s how I recommend waiting for pullbacks. What I’m going to do is I’ll just going to put this most recent next atrget at $238. I’m going to remove my target. Now, what you’re going to do here on a nice little thrust move. On a nice little vertical move what you want to do is you’re going to take Fibonacci and go from the beginning of the buying to the end of the buying. And you’re going to look at a 50 percent retracement in that zone. Now, in this case at the Ichimoku, it lines up perfectly with the turning line at about $186.81 and for the Fibonacci it would be $187. Ideally, you’d like to see a pullback to come down here and tag this 50 percent retracement area and then zip back up to your $238 target. Good luck. Hope it helps. See you on the next video. Hubert.

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