I titled the post as such because I was falling in love with the stock. Right on down to its name, Zscaler, which I think is just the coolest thing for some reason.
Anyway, ZS is part of the cloud software hype bubble currently going on in the markets and it was a seasonal idea back in December per the NFTRH+ Charts & Notes segment that appears weekly in NFTRH. It’s overbought here although still a bit below the original target, which was for a gap fill and maybe a tap of the SMA 200. I’m fine. Plenty of other speculative fish in the ocean.
I took the 19% this morning because well, it’s 19%, it’s near target and as noted above, I was becoming quite enamored of the damn thing and also starting to think I might be smart or something. Those kinds of thoughts often happen right before the market proves how dumb you actually are. It was just a seasonal thing, and so it is ultimately treated as such.
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