ZoomInfo Technologies Inc (ZI) Keeps Tumbling, Here’s The Trade

ZoomInfo Technologies Inc (ZI) is another leading cloud based analytics stock that has fallen sharply over the past month. This stock topped out on November 19th, 2021 at $79.17 a share. Since that peak, the shares have tumbled and now trade at $55.94 a share. The stock is also trading below it’s important 200 daily moving average. This puts the stock in a very weak position on the charts and often signals further downside in the near term.

The next major support level for ZoomInfo Technologies Inc (ZI) stock will be around the $49.00 area. This major support level is where the stock broke out in mid-July 2021. Often, stocks will have excellent support when prior breakout levels are retested. This key support area also matches up with a major retrace level which should add strength to the $49.00 support level. At this time, this area should be a very good long trade setup.     

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