ZKIN 15m – #stocks chatter

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ZKIN 15m
Since the last outlook the price hasn't changed much as it has changed less than a one percent, unfortunately negatively changed.

The last price action pattern flag has failed to break to the upside as the gains were capped at pivot at $5.94.

It looked very promising yesterday for the short term trend to change, however the price broke back below 50 EMA, prolonging the overall short term downtrend.

Dips still continue to attract buyers as the dip bottomed out at $5.70 and found some decent buying power as gains quickly retested key resistance at $6.

Somewhat decent volume was seen today at market open, both buying and selling.

Overall current price action is still managing to hold above both EMA's, above current support at $5.80.

It's important for the price to stay above this level in order to change the short trend.

We now look for another test of $6.

Indicators.

EMA's as we've said are still suggesting a downtrend to be present. But as long as the price stays confidently above $5.80, we can be expecting finally a change of the trend. Because trend is way more likely to continue than to change, that's why we are seeing another bit longer downtrend.

MACD just gave a buy signal with a second oscillator signal as a buying confirmation.

Demand indicator is very close to show bullish momentum being present, a break above 60 will do the trick, however it has to find support at afterwards in order to continue in this buying pressure.
https://www.reddit.com/r/StockMarket/comments/n5ic0z/zkin_15m/

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