History Says Buy The Dip On Zillow Stock

While the real estate market remains not for the faint of heart, the Zillow Group’s (Z) long-term pullback looks like it may be coming to an end. However, before shares begin to make traction in their recovery, history suggests that now is the perfect time for bulls to make bets on Z’s next leg higher.

At last check, Z is trading up 0.3% at $45.37, sporting a week-to-date reading that’s hovering near breakeven. Zillow stock is also trading within one standard deviation of its historically bullish 50-day trendline. Per data from Schaeffer’s Senior Quantitative Analyst Rocky White, Z flashed five similar signals over the last three years, finishing higher each time, averaging a 21.7% one-month gain. A move of similar magnitude would send the security just shy of $55 — its highest mark since early April 2022.