Zoom Video Communications stock price (ZM) inched higher in latest intraday trading, amid the dominance of the short-term downward trend and trading alongside a descending trend line, with ongoing negative pressure from trading below the 50-day SMA. Additionally, we notice negative signals starting to stream from the Stochastic after reaching extremely overbought levels.

Therefore we expect the stock to decline in upcoming trading, as long as the resistance of $79.45 holds on, targeting the support level of $72.90.

Todays price forecast: Bearish