ZOM: What would take for it to reverse the trend?
Hello traders and investors! Let’s talk about ZOM today!
ZOM lost the most important support level at $ 1.48, as we discussed in our last study (link below this post), and when this happens, it’ll just head to the next support level.
This is a shame, as if ZOM reacted, it could’ve given a very interesting trade for us, but unfortunately it didn’t react. Now, if look at the daily chart above, you’ll see that it is just heading to the $ 0.85.
The $ 0.85 is a nice support level, yes, but it is not as good as the $ 1.48 could've be, as this is near the 21 ema in the weekly chart:
Now, ZOM is under the 21 ema, and it’ll require much more patterns to reverse the bearish sentiment in the mid/long-term.
The volume is not the best, and in order to react, we must see it increasing more. Remember: Volume is the fuel of a trend. But I agree that if it reacts near the $ 0.85, it could be a nice start for something great.
Let’s calmly wait for another opportunity on ZOM, and always trade carefully, as this is a high volatility stock, so, if you want to trade it, set your stop-loss very tightly to protect yourself.
And remember to follow me to keep in touch with my daily updates on stocks, and if you liked this idea, please, support it!
Thank you very much!
ZOM lost the most important support level at $ 1.48, as we discussed in our last study (link below this post), and when this happens, it’ll just head to the next support level.
This is a shame, as if ZOM reacted, it could’ve given a very interesting trade for us, but unfortunately it didn’t react. Now, if look at the daily chart above, you’ll see that it is just heading to the $ 0.85.
The $ 0.85 is a nice support level, yes, but it is not as good as the $ 1.48 could've be, as this is near the 21 ema in the weekly chart:
Now, ZOM is under the 21 ema, and it’ll require much more patterns to reverse the bearish sentiment in the mid/long-term.
The volume is not the best, and in order to react, we must see it increasing more. Remember: Volume is the fuel of a trend. But I agree that if it reacts near the $ 0.85, it could be a nice start for something great.
Let’s calmly wait for another opportunity on ZOM, and always trade carefully, as this is a high volatility stock, so, if you want to trade it, set your stop-loss very tightly to protect yourself.
And remember to follow me to keep in touch with my daily updates on stocks, and if you liked this idea, please, support it!
Thank you very much!
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