This Real Estate Stock Could See Some Serious Upside

Zillow stock pulled back to a supportive level on the charts

Mar 5, 2020 at 3:42 PM
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Real estate app Zillow Group (NASDAQ:Z) was testing all-time high territory last week, and has just pulled back to around the $50-$52 level. Now 19% higher year-to-date, the tech name is outperforming the broader market. With this foundation in place, now looks like an opportune time for bulls to circle in.

Z chart Feb 28

 

Digging deeper, the majority of analysts still have tepid “hold” ratings on Zillow stock, leaving the door open for bullish attention. The security is also heavily shorted despite its run up the charts, with its short interest now accounting for 24% of its total available float.

Near-term premiums look attractive at the moment, based on the Schaeffer’s Volatility Index (SVI) of 54%, ranking in the 18th annual percentile.

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