ZK INTERNATIONAL (Daily 20MA Good Support?)

22 Jan 2021

💎Technical Analysis Summary💎



NASDAQ: ZKIN

-It seems the 3.7 dollar is a strong resistance zone
-The price was unable to break its previous High
-ZKIN has pulled back to its 20MA support area
-We still have a few hours left before this daily candle closes
-It seems to be the 3 Dollar zone is acting as a good support
-This is also a confluence of previous resistance last Nov 25, 2020
-All major moving averages are still below the price
-So basically, the trading priority is going Long
-If you are an aggressive buyer, you can start to scale in
-Just above the 3 dollar area provided there are signs of strength
-But if you want to be more cautious and wait for extra confirmation
-A breakout above the trendline resistance is your next option
-The upside target is the recent High around 3.7 dollars or higher
-For now, I'm expecting a potential consolidation in the next few days
-There is no major red flag yet provided the over-all market condition is in our favor
-Once the market saw new development, I will try to share my new analysis




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