5/17/2014 – Don’t overlook Zillow (Z) – Stock Market Mentor by Dan Fitzpatrick

I want to look at Zillow ( NASDAQ:Z ) today.
This actually is stock that’s in a really nice pattern; a lot of folks are bearish
on the home builders or the real estate industry and that’s
fine, but this is an Internet company, they don’t own wood, they don’t have
stuff for sale or stuff to buy, what they have is
information. So you look at this, this has been in a really nice bowl pattern on the
daily chart; you look at it on the weekly chart,
another really nice pattern, this is close to an
all-time high, which when the stock opens up
in 2011 it’s not like you got that much data,
but this is a stock that’s continued to work, it was a really good IPO strategy
stock here, you got over a double, almost a triple on that. The stock is
now at a point where I think you can buy it; forget about
what they’re talking about when you hear real estate or home
builders or whatever, don’t think about that. Frankly, when the real estate market
really stinks, that doesn’t mean that people aren’t
looking at real estate, it just means that maybe they’re not buying it or maybe they’re not selling it. So as
long as folks are still interested in what houses are worth, and by the way, if
you own a house tell me you haven’t looked on Zillow ( NASDAQ:Z ) and checked to see what the Zestimate is, of
course you have, if you haven’t you’re going to do that now
as soon as you finish listening to this video. Zillow ( NASDAQ:Z )
does work, it’s
working quite well, keep that in mind and I think you can
buy it here. The stocks is trading
above the 200-day moving average, which is 86.76, that’s really kind of your downside, the stock can pull back to this
level, it can pull clear back to this level
and there still wouldn’t be anything wrong with this uptrend; so just know if you’re
buying the stock right now you’ve got to be able to withstand a pull
back to around $90.00 or so and that has to be okay with you, otherwise you’re just use
doing this to make a trade. You can buy a little bit right now, if the
stock does give a nice healthy pullback then that’s when you what want to buy some
more, but ultimately I think Zillow ( NASDAQ:Z ) moves higher.

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