Zillow Stock Price Prediction | Z Stock Chart Analysis | $Z $ZG - YouTube

i just found a pattern on zillow's  stock chart that may suggest  

which way this stock is heading next let's jump in

what's up everyone i'm brad welcome to the money  diet channel in this video we are talking about  

zillow's stock chart and a pattern that i found  on that stock chart that i think will suggest  

which direction this stock is going in the future  at least with a certain degree of probability but  

that's what we do on this channel we look at stock  chart patterns and we project price targets based  

on their uh probability so if that's something  that interests you please consider hitting that  

subscribe button if you're not a subscriber yet uh  and join this channel because i've got a lot more  

of these to put out and we've had some success  with them in the past so come along for the ride  

okay let's jump into zillow's stock chart all  right i've got zillow's stock chart pulled up  

on the screen so you can see we've been in  a nice bull run for all of 2020 and probably  

leading back a little bit as well yeah all of 2019  as well so it's been a pretty good couple of years  

for zillow that is for sure so we have a bull  pennant which if you saw my last video i talked  

about the probability of bull pennants is actually  on the lower end it's about 55 percent so um 55  

probability that uh we will hit our price target  on a bull pennant after we confirm a breakout so  

not a terribly high probability but that's okay  it's better than uh less than fifty percent right  

we don't want anything to do with anything that's  less than fifty percent so with a bull pennant it  

has to be in a bull trend uh a bull pennant is a  continuation pattern meaning it tends to continue  

whatever price action was going on before the  pennant form so we have a bull trend right here  

and the bull pennant suggests that it's going  to continue this trend to the upside and we can  

project a price target from the bullpen  as well so we can actually have a price  

prediction based on this pattern so a couple  of things i want to talk about before i do  

that price target though because there are a  few things that are concerning about this one  

these volume sticks right here are a little  weird for a bull pennant they're not lining  

up exactly how you would want to see them for a  bull pennant this little run up right here this  

little run up right here of increased uh green  volume to create the flagpole is a good sign  

and then we see volume trickled down as we go  into the consolidation period which creates our  

pennant so that's good but we have this giant red  volume stick right here i don't know if that is a  

bug or if that's real but that is very strange  and we already have a confirmed breakout on  

this pattern right we have a couple of uh sticks  that have closed above the resistance right here  

so we do have a confirmed breakout which is  a great sign but we didn't break out on super  

high volume so that's just slightly concerning  it's not really a bad thing i mean we're still  

breaking out we're still gaining right we're still  gaining momentum to the upside on this breakout so  

that is a good thing you would just ideally in  a perfect world you'd like to see it on high  

volume so there's not we don't have volume there  on the breakout and then the last thing that's  

just a little concerning on on the screen here  is this rsi indicator it is very overbought we  

are at the very top end of this rsi indicator  so that is suggesting a sell signal at least  

in the short term you want to see that come down a  little bit so we might see a little bit of selling  

activity here for the next day or two for the  next trading day or two just to consolidate um  

get that rsi signal back down to the normal  range and then maybe we take off from there  

it's really hard to say but there are a couple  of uh things that are concerning down there in  

in the in the metrics down below uh  just to be aware of now all that said  

a bullpen is a very good thing for a stock chart  if you are a bull on this particular stock and  

we already have a breakout so we're already  moving to the upside we can project where  

this stock is going to go based on the height  of the flagpole so we just take that flagpole  

we copy it and we start the flagpole wherever our  new bull trend started so you can see we touched  

down right there at the bottom of the pennant  and we started our new bull trend and this is  

this is our new flagpole ideally and this  is the top of the flagpole is going to be  

our price target so we get 143 dollars for  our price target we're sitting at 129 now  

so that's about 14 of upside for this particular  price prediction fourteen dollars on 129 is  

probably twelve percent upside so um it's nothing  huge but twelve percent is nothing to scoff at  

either right i'll take twelve percent all day so  i also like this stock a lot in general zillow i'm  

i'm long on zillow already all good news to me  all right so that's all i got for zillow i have  

a price target of 143 on it we're sitting at 129  right now so that's about a 12 percent upside so  

looking forward to that coming true hopefully  if you made it this far into the video thank you  

so much please hit that like button and subscribe  if you're not a subscriber yet and one last thing  

my toddler told me that i have to say in this  video that the grinch visited our house last  

night and tp'ed our christmas tree i know  that has nothing to do with stocks but had  

to throw that in there i told her i would okay  thanks guys i'll see you in the next one you