AAPL 196.98 1.395% MSFT 367.78 -1.0307% NVDA 101.49 -2.8711% GOOGL 151.16 -1.4152% GOOG 153.36 -1.3762% AMZN 172.61 -0.9866% META 501.48 -0.1652% AVGO 170.99 -2.0732% LLY 839.96 14.2958% TSLA 241.37 -0.0745% TSM 151.74 0.0462% V 329.61 -0.5191% JPM 231.96 1.0235% UNH 454.11 -22.3797% NVO 58.08 -7.6336% WMT 93.22 2.2261% LVMUY 110.1 1.0741% XOM 106.92 2.6202% LVMHF 559.0 1.7288% MA 517.33 0.7596%
Zoom Video Communications Inc
Zoom Video Communications Inc (NASDAQ: ZM) is a video communication platform provider. The company's technology connects people via video, phone, chat, and webinars, and allows for cross-device and cross-location interactions.
As per our previous recommendation on ZM as on May 24, 2022, we recommended a ‘Buy’ rating on the stock at USD 90.20 and noted below are the details of support and resistance provided in our previous report and the stock price has moved by 22.89% since then and the price is now moved above the Resistance 2 level.
Recommendation Summary as on May 24, 2022
ZM’s Daily Price Chart
Source: REFINITIV; Analysis: Kalkine Group
Considering the resistance, current trading levels, volatility in the global markets and uncertainties over near macro events and other risk associate, it is prudent to book profits at the current levels. Hence, a ‘Sell’ rating has been provided on the stock at the closing price of USD 110.85 as of 21 July 2022.
Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is July 21, 2022. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.
Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.
Kalkine Equities LLC provides general information about companies and their securities. The information contained in the reports, including any recommendations regarding the value of or transactions in any securities, does not take into account any of your investment objectives, financial situation or needs. Kalkine Equities LLC is not registered as an investment adviser in the U.S. with either the federal or state government. Before you make a decision about whether to invest in any securities, you should take into account your own objectives, financial situation and needs and seek independent financial advice. All information in our reports represents our views as at the date of publication and may change without notice.
Kalkine Media LLC, an affiliate of Kalkine Equities LLC, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.
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