Zscaler climbs 11.4%: the double bottom in the 121 area gains traction

Zscaler is in the sixth week of a sell signal, yet the week just closed with an 11.4% rebound built on a double bottom in the 121 area. The short-term technical picture has flipped: flows are back on the buy side and momentum, negative for weeks, has turned positive. A volatile name where the decline, still open on paper, is starting to show cracks.