Zscaler: the rebound fades, sellers retake control
Zscaler drops 5.5%, erasing its rebound as sellers retake control
Zscaler: the rebound fades, sellers retake control
Our view last week
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.
This week's summary
Zscaler just burned through last week's entire rebound: after the 11.4% double-bottom bounce in the 121 area, the stock gave up 5.5% this week, with 96% of trading on the sell side. The weekly technical analysis tells a mixed story, though: money flow turned negative again, while MACD and momentum keep improving underneath. The sell signal is in its seventh week, the short still near breakeven.
IQS Phase
57
ordinary
Signal Strength
10
decline fading out
Sizing
MINIMUM
Ranking
#74 / 137
US stocks
Trade P&L %
+0.33%
from signal to today
restricted Platinum content