Chart of the Day: Zillow Group (Z)

Zillow Group, Inc. (Z) engages in the provision of real estate and home-related information marketplaces on mobile and the web. The company has the largest real estate portal in North America. Real estate agents and brokers use Z to generate leads through advertisement.

Z is embarking on…

what it calls “Real Estate” 2.0”. This initiative should smooth the way for more transactions by helping sellers sell their homes by providing liquidity to homeowners and helping them run virtual tours on Z’s site. These transactions could lead to more services for Z such as mortgages and title insurance. These services could lead to significantly more profits for the company.

The stock is currently trading at $62 which is more than double its March low.

The Tale of the Tape:

Take a look at the 1-year chart of Z below with my added notations…

See chart and continue reading at STOCKNEWS.com