Zillow's financials are not bad and the 10-year yield's plunge gave investors hope, with earnings due in early November. It must overcome a trend line from the March 2020 and October 2022 lows, having been rejected there once, to start moving higher; near-term target is $36.52 for any robust move.
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Next up, another chart coming off the lows or at least near-term lows, Zillow. And you may say, well, why? Well, of course, the 10-year yield collapsed to a certain degree today, much lower than a lot of folks anticipated.
And with that big plunge down on the 10-year yield gave investors hope to get back into Zillow. Now, Zillow's financials are really not that bad. Speaking of which, they've got earnings coming up in se or pardon me, in just the beginning of November, just a couple weeks away.
Now, what would be fantastic for Zillow to do in the time frame before their earnings is to push up and reattack this trend line. Now, to find the origin of this trend line, guys, we got to go back.
You've got to go back to the March of 2020 lows. We're talking about the CO lows, guys, connected over here to the low that occurred in October of 2022. Look, it already happened.
And what do we talk about in this show over and over and over again? We talk about breakout, retrace, bounce plays. We talk about breakdown, retrace, fade plays that already happens.
That tells you this trend line is critical for Zillow to get over to start getting higher on the charts. Already been rejected there once and this was a place of support on other occasions, too.
So Zillow's destination for any robust move is right here, $36.52 for the immediate near-term.