Off my study of ZM

After the close on expiration Friday Aug 21,2020 I began my studies of the stocks I like to watch. The one that peaked my interest was ZM. Using my 8 chart and the regression line (Qcharts) I drew my lines off the bottom of 8/20 candle (@15:14) to the close of 8/21 and the bottom of 8/21 at 11:54 to the close of 8/21. Also the fact that ZM is going into earnings I was almost 100% sure I would have a good move in this stock. Which way was the question. So I waited for the candle open of 9:54 on the 8 chart then entered my trade. This is what I do on expiration Fridays...study my charts AFTER the market closes, look for news on my stock(s) and plan my move for a Monday open. No I am out of my trade using the 55 chart. Why? Because it bounced up off the 50 moving average. That MAY (MIGHT, COULD BE, ANYONE'S GUESS) that this would become support with ZM going into earnings. (Note 34 chart StochRSI...now it is flat Directional Movement (ADX) red&green lines pulled apart @ 11:33. Pay attention to the holes made on these lines. The further apart they are the less likely your trade will go well. BUT REMEMBER THERE ISN'T REALLY AN ALWAYS IN THE MARKET!!



Edited 1 time(s). Last edit at 08/25/2020 09:20AM by Darcy3.

Thank you for sharing Darcy, we missed you on here.

Hope someone watched ZM! Nice pot of gold there! August 24 I played a PUT got out when it bounced up off the 50 moving average watched because it was going into earnings. Bought yesterday and out on the open today. I seldom hold over night but I had no doubt that this stock was going up. Notice yesterday how the Bollinger bands on the 5 chart opened wide for a good strong move because candles hugged the upper band. I watched as it pulled back to the 20 moving average not only on the 5 but the 8 but never went below that average. I knew then that the 20 moving average was going to be support so I stayed in my trade. Quite happy with that move and I am done for the day. Watch not only what Gary taught but these moving averages and the direction the candle moves off those averages. Now the stock price is too high for ZM to remain in my main basket. It will become a trade for me on expiration week. My search begins for the next stock I want in my main basket. Yes I still only trade about $1,500 per trade.