Zoom Video Communications (ZM) stock rose in its latest intraday trading, following profit-taking from its previous gains and attempting to unwind part of its clear overbought levels in the Stochastic indicators, especially as negative signals have begun to emerge. The stock remains influenced by breaking a short-term corrective upward trend line, while benefiting from dynamic support provided by trading above its previous 50-day SMA.
Therefore, we expect the stock to rise in its upcoming trading, as long as the support level of 75.70 holds, to then target the key resistance level of 88.90.
Today’s price forecast: Bullish.
The price of (ETHUSD) extended its gains in its last intraday levels, taking advantage of the renewed bullish momentum, due to its trading above EMA50, and under the dominance of the main bullish trend on the short-term basis and its trading alongside a supportive bias line for this track, to surpass the stubborn resistance at $4,575, supported by the emergence of the positive signals on the (RSI).
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The price of (BTCUSD) rose in its last intraday trading, to succeed in holding above the key resistance at $112,000, struggling to get rid of the negative pressure that is represented by its trading alongside a main bearish trend line on the short-term basis, accompanied by its attempt to surpass the EMA50, if it succeeds in that, the price will announce its full recovery from the negative pressures, opening the way for achieving more of the gain.
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The price of (Brent) reinforced its gain in its last intraday trading, supported by its continuous trading above EMA50, and under the dominance of bullish correctional wave on the short-term basis and its trading alongside a bias line that reinforce the stability of this rise, preparing to reach the current resistance at $67.60, on the other hand, we notice the emergence of the negative signals on the (RSI), after reaching overbought levels, attempting to offload this overbought condition, but the price kept its positive stability, reinforcing the chances for extending its gains on the near-term basis.
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