The rebound is back: Zscaler retests the wall in the 152 area
Zscaler climbs 7.7% and challenges the wall in the 152 area, as the short slips into loss
The rebound is back: Zscaler retests the wall in the 152 area
Our view last week
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.
This week's summary
After burning through last week's entire rebound, Zscaler brings it right back: up 7.7% this week, with 63% of trading on the buy side against 96% on the sell side seven days ago. The stock is pressing again on the wall between the 20-week average and the daily Kumo ceiling, in the 152 area, off the clean double bottom in the 121 area. Underneath, though, money flow stays negative and buyers are losing their edge: the short, under management for 8 weeks, has slipped into a 7.3% loss.
IQS Phase
44
ordinary
Signal Strength
2
decline nearly over
Sizing
MINIMUM
Ranking
#140 / 140
US stocks
Trade P&L %
-7.31%
from signal to today
restricted Platinum content