Zillow (Z) has been on my radar for a long time. I like the business and they are the future of buying and selling real estate. Whenever someone is searching for a home, they don’t look in the newspaper anymore. They look at the listings on Zillow. I would consider Zillow to be the Uber of real estate. I know Uber came around after Zillow, but I’m trying to show you how disruptive Zillow’s business was to the traditional way to buy and/or sell a home. Let’s take a look at Zillow’s 1 year chart below.
They were in a down trend, but since February, they have turned things around. The $26.00 mark used to be resistance for Zillow, but now it’s support for them. I do see a slight drop in Zillow’s short term future in between $28 – 26.00, but that won’t last long. I don’t think it will get as low as $26.00 because of how their price tends to stay close to their 20 day moving average. Anything under $28.00 is a buy. Zillow should pass their 52 week high of $35.47 by the end of the summer.