Zillow Inc.'s stock has displayed a strong trending move higher since breaking above the $110/$112 level with conviction in the middle of May. This is evident by the steep rise in the ADX (red line).

The ADX (Average Directional Index) is a technical analysis tool that provides an indication as to whether a stock is trending. The trend could be up or down, depending on who is control (bulls or bears). As discussed further below, the bulls have been in control for now.

In reviewing the daily chart, there are certain price levels to keep an eye on. First is the $140 level and next is the $130/$132 level. If either of these support levels fail on a pullback, the $120s are next in line.

Note that Z held above the $140 level on the shortened holiday trading day to close at $142.23 for the week (7/3/14). Bulls could push this higher yet since they are still in control, as +DMI (blue line) is well above -DMI (orange line).

The DMI (Directional Movement Index) is a technical analysis tool that provides an indication as to whether bulls or bears possess overall control of a stock at any given point in time.

This is a great example of a stock experiencing a strong trending move higher with the break of multiple resistance price levels along the way.