Patiently watching Zillow ($Z)

Zillow right now is dead center of a range its been for the last 60 days. Its been getting tighter and tighter. Something has to give. While I usually prefer to trade/anticipate breaks out of a range or take trades at support of a range than the middle of the range, Zillow represents an attractive long here. The tighter the coil and the longer the coil, the bigger the break away. I think a price target of 90-100 if it breaks out of the range to the upside is appropriate.

Capture

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s