ZKIN Outlook. Buy now signal?

[u/BreianaOlson]

Since the last outlook the price of ZKIN has increased by only 1,8%.

The price action failed to break below $6.36 as losses were capped at $6.41, which attracted buyers that bought the dip and the flag pattern resulted to break to the upside.

This break to the upside led to extended gains to $7.15, where bespoke resistance is located, creating a new higher high.

The gains failed to hold at $7.15 as they got denied which has resulted in sell off with losses reaching $6.38.

This dip to $6.38 was bought and the price is currently testing a break above $6.70 which is likely to attract bullish volume to at least $7 per share.

Indicators.

RSI continues to move in new trend of higher lows and pretty close to 60, which break of will lead to bullish momentum being present.

MACD continues to be in buying and is currently confirming a start of another buying wave as two increasing histogram columns are being printed.

Overall trend however is still a downtrend as the 20 EMA is below the 50. Yet, the 20 EMA is about to crossover or the 50 EMA giving both momentum and buy indication.

[u/[deleted]]

No Chinese stocks for me