ZS – Your Bullseye Pick of the Week - Bullseye Pick of the Week

My Trade Plan Details:

  • ZS Nov 17, 2023 $165 calls near $3.50
  • Stop: Close under $151
  • Target 1: $165
  • Target 2: $170

My Reasoning:

One of the top sectors for the whole market right now is cybersecurity. As you can imagine, this is an area in high demand, especially as we have wars brewing all over the world right now.  Wars are rarely fought with guns today, but rather online. My top idea this week is at the forefront of this battle and has been one of the fastest-growing companies in any sector for the last couple of years. Right now, it is trading at a spot where I think it can make a big move as traders are likely to “buy the dip” we have seen recently.

My Bullseye pick this week is Zscaler (ZS).

My whole idea for ZS this week hinges on the tech market (QQQ) holding up and having at least a minor recovery this week.

Keep a close eye on QQQ, because if that continues to break down, then I don’t think any stock will be able to sustain a move higher this week – but I think we are due for a nice bounce, so I’m trying to catch a piece of it!