27Apr11:43 amEST

New World Beneficiaries

Even as various states across the country lay out plans for a gradual reopening of businesses and way of life there can be little doubt at this point that it will still take a fair amount of time for us to get anywhere close to life as we knew it back in the good ole days of February.

The same can be said even more for businesses, as I suspect various firms have already warmed up to using video conferencing platforms on a steady basis during the lockdown. 

Zoom Video has been an obvious winner, albeit with their share of controversies in recent weeks. And Slack Technologies, Inc., would have to be considered a beneficiary, too. On the WORK daily chart, updated below, we can see the coiled price pattern just below the key $30 well-defined resistance level. 

With earnings not until the second week in June and a $15 billion-plus market cap, WORK has time to grow into an emerging leader even more in the coming weeks. Buyout or not by a mega-cap tech firm, it is tough not to keep tabs on this one. 

Elsewhere, the broad market is continuing to squeeze on higher, which seems rather optimistic given the FOMC later this week plus a slew of heavyweight QQQ holdings reporting earnings. Nonetheless, bears have not forced the issue at all and we seem to have somewhat of a lower volatility rolling squeeze/grind higher still in effect. 

Weekend Overview and Analysi... Crude Headlines; Natty Basel...

 
BackToTop
 

This website is intended for educational purposes only. | © 2020 MarketChess.com | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site