BUYS
EXIT POSITION IF PRICE GOES BACK TO 2.67
make sure you utilize good risk management.
--THE BLUE FLAG SHOULD BE YOUR TP ZONES AS USUAL.
🔺 Disclaimer! The content of this analysis is subject to change at any time without notice.
🔺 It is provided for the sole purpose of assisting traders to make independent investment decisions.
🔺 You must do your own...
ZCX has broken straight through the support from previous chart right down to the lower trendline. Also HTF support here so expecting a bounce maybe after the weekend.
Volume did ramp up on the decline however so may see a break, but big demand wicks coming off the last three candles so think it's worth the risk.
Tough to call what Unizen will do, but in the long term bullish.
Declining volume with price.
RSI making higher lows at lower price.
Downward trendline been tested multiple times at high volume, could go either way.
However, not much strong support so could see price follow the parallel channel that has formed.
Looks like we should start slowly scaling into ZCX. I think this might be forming a support range due to the OBV and price support area, but the overall low OBV without V-shaped bounce and the non oversold RSI has me wary about building a big position here. So, scaling in slowly is a good option.
