During the previous 4 weeks, $ZKIN was moving inside a very wide consolidation zone. I am analyzing it on a weekly chart as it gives a more clear view of the opportunities for this week.
In the first 3 weeks, the price moved in a defined zone between 1.88 and 2.57. This was a zone where we made two wonderful trades with a total of 49.55% of profits. The previous week from 14 to 19 of December the price made a higher high increasing in this way the possibilities for a higher move again. Anyway, as long as the price is inside this box we need to secure our profits and take them partially in the safe zones.
Targets to consider:
TP 1 @ $ 2.54 or 19.87% This target is reached twice
TP 2 @ $ 2.76 or 31.53%
TP 3 @ $ 2.99 or 43.70%
TP 4 @ $ 3. 40 or 61.58%
TP 5 @ $ 4.05or 92.92%
PS: The first two targets have a very high probability
For a deeper analysis of what is really happening with this stock, please read the related ideas.
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