PolarHusk

ZKIN INTERNATIONAL($4 Strong Support?)

NASDAQ:ZKIN   ZK International Group Co., Ltd
💎Technical Analysis Summary💎



NASDAQ: ZKIN


-ZKIN almost closes below the 4 dollars key support zone
-But the bulls defended that region with a strong rejection candle
-The price manages to regain above 4 dollars respecting the trendline support
-This is a good sign of strength in the short term
-Yesterday, the bulls tried to break above the resistance line but failed
-If the price will revisit the 4 dollar key level
-I think that is the last chance for the buyers to break outside this channel
-Technically, this descending channel is bullish but we need a confirmation
-A signal to enter a long position is once the trendline is broken upwards
-You will have a good risk to reward ratio and a stop loss below 3.8 dollars
-The upside potential can be up to 6.5 dollars or the top of descending channel
-I'm expecting 1 more trading week before we can see a good market direction
-Please be patient and wait for the proper confirmation to trigger the buy button
-Stay healthy and keep safe everyone!



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