ZK INTERNATIONAL (Test Mid Resistance or 8 Dollars?)

💎Technical Analysis Summary💎



NASDAQ: ZKIN

-Previous update was expecting a good bounce at 50D MA
-The Bulls defended that region and the price is now trading above 6 dollars
-We can see the ZKIN is now outside the short term resistance trendline
-And started trailing the 9 Moving Average in the daily
-If next week candle continues to trade above 6.6 dollars
-I think we will have a higher chance to test the 0.5 - 0.618 Fib resistance
-The 8 dollar region will be our mid resistance to break
-If we can clear that region, I think we can retest the 13 dollars recent high
-That is all for the bullish side of the thing
-Now, looking at the downside scenario, if we lose the 9MA dynamic support
-And closes below 6 dollars, I think we will retest the recent low around 5 dollar
-The 50D MA will catch up and may act as support again
-If we bounce from it, it will be a good sign of a potential double bottom
-We need to have both plans if things go south and act what we see not what we feel
-Please trade responsibly and always follow proper risk management




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