ZK INTERNATIONAL (Test 50D MA Support?)

💎Technical Analysis Summary💎



NASDAQ: ZKIN


-My previous update failed to hold the 6$-$5 support area
-The price is now testing the 50D MA dynamic area
-With the confluence of previous mini consolidation last Feb 3-12 trading history
-The over-all market is highly affected by the S&P500 correction
-The price has retraced -65% from the top all the way to the current level
-Today's daily candle close is very important because this will affect next week market sentiment
-If ZKIN can hold the area $4 for at least 3 trading days
-I think we can safe to say temporary support is found
-And would expect a relief bounce up provided the S&P500 can find support as well
-For now, please wait for proper reversal signs of strength in terms of bullish price action
-Because we will never know how far this correction can be
-Do not try to catch the bottom, target only the chunk in the middle if we want to play safe
-Always look at both side of the market and be prepared for the worst and best scenarios
-We will have a good trading day again, this is normal in terms of the market cycle or uptrend





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