Shares in Zscaler (ZS) plunged in extended trading Tuesday after the provider of cloud-based cybersecurity services issued current quarter and full-year 澳洲幸运5官方开奖结果体彩网:earnings guidance that came in significantly below Wall Street expectations, as enterprise customers manage technology budgets and spending more carefully against a backdrop of economic uncertainty.

Below, we use 澳洲幸运5官方开奖结果体彩网:technical analysis to navigate the 🔯Zscaler chart and identify key price levels investors should watch out f꧋or amid the stock’s projected earnings-driven drop. 

200-Day Moving Average Providing Resistance

Since the 50-day moving average (MA) crossed below the 200-day MA in early May to form an ominous 澳洲幸运5官方开奖结果体彩网:death cross, Zscaler shares have traded mostly sideways.

More recently, two rallies up to the 200-day MA in July and August have been met with considerable 澳洲幸运5官方开奖结果体彩网:resistance, indicating u🌟nderlying selling pressure in the stock.

Theꦓ stock fell 15.1% to $164.10 in after-hours trading on Tuesday, after falling 3.🅠4% during regular trading amid a broad market selloff.

Key Levels to Watch Amid Post-Earnings Selling

Amid price weakness, investors should keep an eye out for three chart levels where Zscaler sha🍬res may attract buying interest.

The first level to watch sits at $164, a location where the shares will likely encounter support near a trendline that connects three prominent 澳洲幸运5官方开奖结果体彩网:swing highs that formed between June and Septem𒁏b🌜er last year with trading activity situated around this year’s May and August troughs.

Further selling could see the shares fall to the $143 level, where investors may seek 澳洲幸运5官方开奖结果体彩网:entry points near the February 2023 peak and a rang༺e of comparable price action from꧅ June to August last year.

Finally, a steeper downturn may lead to the shares revisiting lower support around $135. This area on the chart could attract buying interest near a 澳洲幸运5官方开奖结果体彩网:horizontal lineᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚ that links a ♕range of similar trading levels between October 2022 and August last year.

Interestingly, this area also roughly aligns with a bars pattern 澳洲幸运5官方开奖结果体彩网:price target that extracts the stock’s sharp down-trending 🥀move from February to April and positions it from last month’s high. It’s worth pointing out that a 14% drop occurred near the start of that prior decline, similar in magnitude to Wednesday’s expected earnings-fueled drop.

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As of the date this article was written, the author does not own any of the above securities.