Zoom Video Communications (ZM) stock price recorded choppy, range-bound moves in its latest intraday trading, as it attempts to build positive momentum to help maintain the main upward trend in the short term. Price is moving along a supporting trend line and continues to benefit from dynamic support by trading above the 50-day SMA. In the background, RSI has reached heavily oversold levels relative to price action, signaling the start of renewed positive momentum.

Therefore we expect the stock price to rise in upcoming trading, as long as it holds above the $88.90 support level, targeting the key psychological resistance at $100.00.

Todays price forecast: Bullish