Here’s your trade on Zillow $Z – September 26, 2024
This is Scott McGregor at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. I want to take a look at Zillow Group ( NASDAQ: Z ).
Z ( NASDAQ: Z ) is consolidating after a pretty nice run off of its 8 and 21-day exponential period moving average. Right here, in the middle of September, we got a nice bullish engulfing candlestick, and a back test of the 21-day exponential period moving average. And then it marched up the 8-day until it got a bit extended here, right around $69.00.
In the last couple of sessions, it has just been consolidating that move. I like the fact that this is holding in and around the 8-day exponential period moving average. I would look for the stock to stabilize around the 8-day, take out that 67.40 level, right there, and do it on volume to trigger a new entry on this stock.
Now, of course, you would want to make sure it holds above the 8-day exponential, which is right around 65.30. So keep an eye on Zillow ( NASDAQ: Z ) for some follow-through after this big move up in just a couple of sessions.
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