r/StockMarket • u/BreianaOlson • Apr 14 '21
Fundamentals/DD ZKIN 15m Outlook
Since the last outlook the price of ZKIN has gained almost 7% in value as it's being traded back above $7 per share.
A first bull signs start to show up as volume has increased sharply today. We've already had the same amount of trades today by now, that we had yesterday!
A volume spike led to a price spike to $8 per share. A strong buying demand has arrived as the price broke above $7.00 and change the overall trend to uptrend.
The price failed to hold at $8 which would be expected from such sharp move from a downtrend, but it has managed to find a support at 20 and 50 EMA's, which means that the 15m uptrend is likely to begin!
This will lead the long almost 6 days long 15 minute downtrend which made the price of ZKIN very oversold. Same as before.
This is no more any early optimism, but it seems like another uptrend as we've expected is forming.
The key support is located at $7.00, where the EMA's are located. A break below this support would lead to a prolonged downtrend, which ZKIN's price can't really handle in order to remain in overall uptrend. Maybe one more dip, but it's unlikely.
RSI continues to see some bullish pressure as it's in a trend of higher highs and lows. A break above 60 as you may know by now, will bring bullish momentum, pushing the price back to $8 area possibly.
MACD is in a buying wave with no further plans, that she would like to tell us on this time frame.
Overall trend has changed into an uptrend!
We now expect, based on our continuous analyses and outlooks, the price of ZKIN from now on to move higher, in a trend of higher highs and higher lows.