This cloud-based security company that saw strong momentum to the upside during the 2nd and 3rd quarters gave back all of their gains during the 4th quarter. July 26th, 2019 ZS put in a 52 week high of 89.54. It then traded as low as 46.04 on 9/11/19, only to extend that down side range by a penny on 10/1/19 trading 46.03. Not quite making it to the 52 week low of 30.72. This shelf of support ZS has found over the past 19 trading days has really caught my attention. This could be a nice buying opportunity for this stock. ZS would be a great candidate for Prosper’s Zone methodology, giving us a chance to take advantage of a possible oversold stock. As always only time will tell. 

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about the author:

Patrick Hammond

Patrick Hammond runs both our Momentum Stocks Room and Foundation room.

In our Momentum Stocks Room you will learn the “nuts and bolts” to trading stock. Get an introduction to stocks, learn about short selling, dividends, and see how they affect the price of the stock.

Our Foundation Room is a wealth of knowledge for all of our traders from beginning novices to seasoned vets. Here you can sharpen your trading acumen by taking things back to the basics or discover overlooked methods that can make you a more consistent trader.

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