ZKIN INTERNATIONAL(Retest Important Key Support?)

💎Technical Analysis Summary💎



NASDAQ: ZKIN

-ZK failed to hold above 7 dollar area last week and now trading around 5 dollars
-This is technically not a good sign in terms of price action
-The good news is the price is reacting at the 20MA in the 6D time frame
-ZK bounces from this Moving Average the first time it tested last April 19
-The 5 dollars key support area and with the confluence of 20MA
-May act as a good demand zone if the history repeats itself again
-The price has been in a decline action since March 23 and retraced by -66%
-I'm still expecting another attempt to push above 7 dollars
-Before deciding if the trend can continue higher or start to end the cycle
-The 4.87 dollars is my invalidation level as long as this price holds
-If the trend is still our friend, we will try to trade our bias until the cycle ends
-As always, please manage your risk and follow your trading plan
-See you and stay safe everyone!



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