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Looking at the chart, my last analysis was short. But looking at the 1 day chart again with a fresh cup of joe, I am long. There is a Downward-Channel ZRX has been in for some time. This channel has replicated a head-shoulders pattern consecutively. Are we seeing another repeat of this trend? The RSI is clearly showing exactly the same pattern as every H/S prior, as well the moving averages have crossed at exactly the same time in the forming H/S as the one before it. So it seems there might be a repeat for the fourth time.
If we reach the top of the channel, the region that is red is where a sell off will occur, a good short position?? Possibly.
My prior analysis failed to see the bigger picture, so while only time will tell, I feel far more confident in this analysis than the last.
Just an interesting thought, let me know what you guys think! Please do not trade based on this idea.