“Zillow is a home and real estate marketplace dedicated to helping homeowners, home buyers, sellers, renters, real estate agents, mortgage professionals, landlords and property managers find and share vital information about homes, real estate, mortgages, and home improvement. We are transforming the way consumers make home-related decisions and connect with professionals.” — Zillow website
The company’s stock has been moving higher in sync with the housing market recovery since a nearly putting in the all time low in late 2012. Since bottoming out at $23.00 last November Z has pushed above $97.00. Analysts opinions are varied and mixed, but that’s what makes a market yes?
It’s also what creates opportunity for traders.
Zillow is currently attempting to put in a higher low having bounced off the 8/15 low at $87.64… which, interestingly enough, coincided with the 20 day EMA. We like entries below Friday 8/16’s close at 91.22 using the 8/15 low as a stop.
If the 8/15 low is broken, there is additional support at $84 and $81.25. If the $81.25 support area is breached, a bullish bias should be suspended until this growth stock can resume its upward trajectory.
We neither own nor have owned Z.