Oversold ZS May Be Primed for Bounce at $230.52

Zscaler Inc (ZS) closed up 0.41% at $230.52 on December 27.

Technical indicators paint a mixed picture:

• Moving Averages: Price sits below both the 9-day ($232.44) and 21-day ($244.89) EMAs, suggesting short-term weakness.
• Momentum: RSI at 26.2 is approaching oversold territory, which may present buying opportunities. MACD is bullish (-13.96 vs signal -15.59).
• Volatility: Bollinger Band width at 11.6% indicates normal volatility.

Despite the bearish EMA structure, oversold RSI suggests patient buyers may find opportunity near $223.72.

Key levels to watch: Support at $223.72, Resistance at $251.16.