Zscaler: Downward Shortly after our last update, Zscaler faced significant downward pressure—completely in line with our primary scenario. This move allowed the stock to turn lower in time, staying below the resistance at $340.25 and avoiding our alternative scenario of an early breakout above that level. However, a quicker peak for the turquoise wave alt.Y remains a possibility, as we still assign a 37% probability to such an accelerated sequence. Primarily, though, we expect further sell-offs as part of the magenta wave , which should eventually give way to renewed gains above the support at $164.78. With wave , the regular wave Y should then complete above $340.25.
