ZS — Long at Major Trendline Support (Swing)Zscaler, Inc.BATS:ZStruthseeker6I'm long ZS, buying the long-term monthly rising trendline (~120–130) that's held since 2019. After a ~62% drop from the 340 high, price is testing that trendline plus a major support band, and I'm playing for a bounce off the level. The picture across timeframes - Monthly: a major downtrend — price is well below all EMAs, ~62% off the high — but it's sitting on the long-term rising trendline and the S/R band. This is the support the trade is built on. - Weekly: still a downtrend, but stretched — PMO deeply negative, RSI near oversold. This week's candle bounced hard off the 119.50 low to close at 129.52, a potential hammer at the trendline. - Daily: the most encouraging timeframe — a bullish RSI divergence into the 119.50 retest, a reversal candle closing at the highs, and a double-bottom forming with the 114.63 April low. The trade- Entry: at trendline support. - Stop: a close below 114.63 (the April low). If that breaks, the downtrend resumes toward 86.77, and I'm out. - Target: 145–152 first (the EMA cluster + prior shelf), then 199.55 if the bounce has legs. - Confirmation: a volume-backed reclaim of 145–152 tells me the bounce is real. Until then it's a test holding, not a turn. Risks I'm respecting This is a counter-trend long — weekly and monthly both point down and price is below every EMA. The May bounce to ~195 already failed and round-tripped, so I'm not assuming a clean V-recovery. The drop was a forward-guidance cut — a genuine re-rating to slower growth — so I'm treating this as a tradeable bounce off support, not a call for new highs. A close below 114.63 invalidates it. Why it's here A growth re-rating, not a broken business. ZS beat on Q3 — revenue grew 25% to $850.5M — but guided FY2027 revenue growth to just 16–17% versus the ~19–20% expected, triggering the selloff. The market punishes decelerating growth in richly-valued SaaS; the fundamentals holding up is the core of why I think this support matters. Catalyst watch No ZS-specific event in my window — next earnings is early September. The real inflection risk is the broader SaaS/tech tape. *Not advice. My own view, my own risk.*