... and fell through immediately. The long rise since September has been retraced in February. The bulls tried to stop this downward retracement twice. But now after the second attempt the price fell through with ferve. As the retracement was not a valid one by Fibonacci rules we may now expect a completion of the retracement.
@paisakkaran, I am not engaged in this stock at moment. But as you ask I can tell you my opinion. The stock looks bearish indeed. Since end of March we were in a bearish consolidation which has ended with a break to the downside Thursday past week. This is clearly a bearish signal. But I am not selling yet. We are very close to an important support zone. This is the window opened 30th Novemberto 1st December 2022. I doubt that this can be overcome so easily. Thus I am expecting a certain upward retracement before we see another wave down.
motleifaul
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@paisakkaran, next time, please, ask a bot. He doesn't expect a "thank you". But, may be, I am unfair and you English is simply not good enough. So, please, ask your English teacher to teach you such words like "please" and "thank you". It may help you in future conversations to be better accepted.
paisakkaran
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@motleifaul, Just saw reply now. It is not about politeness, it is expectation of 'quick response' from others which is not nice approach even though having great skill in hands
motleifaul
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@paisakkaran, ok, so let's forget about it. I didn't expect you asking as a daytrader. It is not the timeframe I work at. I am not there to give quick responses as I work on the basis of analyses as you saw. I think that quick responses are not of much value.
paisakkaran
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@motleifaul, I am noob in the investment. Just started learning from chart and analysis. Your views are somehow interesting. I was planning to buy ZAL when it was €20 but unfortunately missed the opportunity because of expectation of price may come to €15 😇. Now gained some patients to enter ZAL. By the way, your response is helped, because the plan was to enter above €30. Thanks for your response for sharing opinion. Now curious about best price range to buy ZAL
motleifaul
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@paisakkaran, I thank you for this focus on ZAL. I am not sure yet whether I will sell but if somebody plans to do so I think that the next little upward correction may be a good chance. A plan may be to sell a part at around 32.70-85 and if the correction will be bigger another part at 1 € higher. If the momentum at the first resistance is still present then then the 33.70-85 level may be envisaged; or any price between both zones. Please, don't take this as the gold standard. You must make your decision depending on the concrete situate when you will make the deal. Good luck! If I will enter a position I will definitely publish the idea.
paisakkaran
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@motleifaul, thanks for honest reply. I am following you for getting new idea which helps to learn more and avoid bigger mistake. Looking forward to getting new ideas.