Zoom technical analysis shows that the stock may start to correct back towards a key long-term Fibonacci support level. Zoom’s share price is struggling to break above its current all-time record high around the $280 level, as the technology stock consolidates around $250. Zoom stock analysis shows a bearish head-and-shoulders pattern has formed, alongside large amounts of negative MACD price divergence building. Zoom’s share price is struggling to attract new buying interest, further increasing the chances that the technology stock may start to correct lower. The company joined the NASDAQ-100 stock index on April 30, 2020.īeginning in early 2020, Zoom's software usage saw a remarkable global increase after quarantine measures were adopted in response to the COVID-19 pandemic.US30 US Wall Street 30 (USA 30, Dow Jones) The company first became profitable in 2019, and completed an initial public offering that year. Zoom's revenue growth, and perceived ease-of-use and reliability of its software, resulted in a $1 billion valuation in 2017, making it a "unicorn" company. It provides videotelephony and online chat services through a cloud-based peer-to-peer software platform used for video communications, messaging, voice calls, conference rooms for video meetings, virtual events and contact centers, and offers an open platform allowing third-party developers to build custom applications on its unified communications platform.Įric Yuan, a former Cisco engineer and executive, founded Zoom in 2011, and launched its software in 2013. is an American communications technology company headquartered in San Jose, California.
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