ZUO Daily Breakout

ZUO is beginning to breakout on the daily chart from the long term bearish trend line (purple) after crossing over the 200 period MA (yellow line). There is plenty of support from ichimoku clouds (green shaded area). The regression channel (red and blue shade) shows a 96% correlation which indicates this is a strong bullish trend (thick blue line). Bulls should be looking to buy on a red day that comes close to this trend line. The next key level of resistance is around 17, and should be monitored to see if the price can successfully break above. Historically, ZUO has played in very tight range bound areas.