Zoom (ZM) - The comeback nobody asked for.. but might happen

[etfs]

 Remember Zoom?

The company everyone panic bought during the lockdown, then abandoned faster than a New Year’s gym membership. Well... it’s back. Sort of. Maybe. Because for the first time in years, the chart prints something that looks suspiciously like “Bullish structure”. Let’s put it under the microscope.

The technicals
Price action has spent the last three years in a de-sending resistance channel, bouncing down like a stressed out toddler in a soft play centre. But now? Breakout.. the toddler has escaped and Mum has not given a 2nd thought as to why it’s quiet all of a sudden. (No Chat GPT did not write that. Many readers have a Planck’s length attention span, and your interest needs to be stimulated now and again).

A breakout has printed, clear.. clean and confirmed.

Resistance has now become support (Finally)
Two key resistance levels, market structure resistance and the post COVID collapse supply wall, have confirmed support. The US department of defence may soon have an alternative to Signal groups.

Give your special attention to the 5 month chart below with a close above past resistance. Bitcoin maxis would love to see a chart like that, expect today’s candle has the wrong colour and points the wrong direction Incidentally the last time a candle like that printed on Bitcoin price action was a $9600.

5 month chart of Zoooooom

RSI breakout from 3 year downtrend
This is the big one. RSI has finally broken above the diagonal resistance that has suppressed momentum since its all time highs. Historically for Zoom, when RSI breaks out on and above 55, great things happen. A multi month momentum rally follows.

A simple target
The nearest significant resistance sits around $350-360, which also aligns with the midpoint of the massive November 2020 breakdown. From current price, that’s roughly a 320% upside. Okay, it's not dizzy heights, but for those of us that understand compound returns, you know this is a first step of many, not just one.

Conclusions
Zoom has finally escaped the three year gravity well that crushed it after the COVID mania. RSI breakout, structure flip, and a multi-year descending channel rejection together paint the most optimistic picture since 2020. Will it run +320% to retest old resistance?
it might. Will influencers arrive pretending they “always knew Zoom was undervalued”? Absolutely.
Will most people ignore the cleanest setup the stock has printed in half a decade? Also yes.
But chart don’t lie. And right now, Zoom is whispering: “I’m not dead yet.”

Disclaimer

This isn’t financial advice, obviously. Still carts to horses, a comment a year from now will read “but you advised us...”, If you buy zoom because a bloke on the internet drew a few blue rectangle and said “breakout”, without due diligence, that’s on you.
If it moon, you’ll claim you’re a genius.
If it dumps, you’ll write me angry messages.
Either way, I’ll sleep just fine. Nite!

[Nahid Hossen]

Haha true — ZM might surprise everyone again.

[Abdul Khan]

Charts actually look cleaner than expected ngl.

[Nahid Hossen]

Equal treatment is exactly what the industry needs.

[Nahid Hossen]

Large financial reserves give projects more resilience during volatility.

[Nahid Hossen]

The “hard no” is becoming a career survival skill.