ZK INTERNATIONAL (Pullback to .618 Fib?)

26 mar 2021

💎Technical Analysis Summary💎



NASDAQ: ZKIN

-We can see ZKIN is having an issue breaking above the 14 dollar zone
-It just printed its 5th rejection candle yesterday which is not a good sign
-This seems to be a profit-taking zone for short term buyers which are the Sellers
-We only have few hours left before this daily candle and weekly closes
-If the price can't hold above the 10 dollar area
-I think it will likely test the importance.618 Fib level with the confluence of 20D MA
-If the Bulls can defend the 8 dollar zone and recover back above the 11 dollar mark
-The chance to retest the recent top increases in the coming days
-For now, I can see a correction to test the important levels
-This is not a major red flag as the market structure stills making higher lows
-The only time I will turn heavily bearish if ZKIN will break below the 50D MA
-Let us all enjoy this weekend and plan our next trade next week
-Keep safe everyone! :)



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