Friends Of ZillowPosted: October 23, 2013
Zillow (Z) is one very very lucky stock. Z has 2 friends, one very close & old; an 11-months trendline and the other a new 11-week Gap. The trendline has been a very good friend saving Z from the bears on a couple of occasions. Meanwhile the gap saved Z from the recent shutdown/ceiling conundrum and acted as a trustworthy support. So what has changed? The long time trend line has turned its back on Z the last 2 days despite a raging new highs market. A H&S top slanting downwards is in the making and the neckline may meet the gap (the ONLY friend Z has left).