ZEL Tech analysis Summary –
As we now move into more favorable Level 2 of Covid 19 restrictions the demand for fuel should start to rise up still in the midst of lower Global Oil Prices. The stock seems to be oversold given the temporary impacts of the level 4 restrictions and slum in oil prices. In August 2019 the stock was at $6.81 and since it has been in the down trend. It has found a good support at $2.72 after touching the lows of $2.50. At the time of analysis, we see that the chart has a good entry support at $3.00 mark and this is where we recommend the ATM Stock Research clients to BUY or existing investors to HOLD the stock. The chart represents a short term decent but high-risk trade opportunity and Traders can enter for a quick profit to the levels of $3.25. As this resistance will be broken in the near future the stock should move upwards to our medium-term target of $3.53. With use of “Average in strategy” and little bit of patience we see a good short-term trade opportunity for all our Investors.
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As we now move into more favorable Level 2 of Covid 19 restrictions the demand for fuel should start to rise up still in the midst of lower Global Oil Prices. The stock seems to be oversold given the temporary impacts of the level 4 restrictions and slum in oil prices. In August 2019 the stock was at $6.81 and since it has been in the down trend. It has found a good support at $2.72 after touching the lows of $2.50. At the time of analysis, we see that the chart has a good entry support at $3.00 mark and this is where we recommend the ATM Stock Research clients to BUY or existing investors to HOLD the stock. The chart represents a short term decent but high-risk trade opportunity and Traders can enter for a quick profit to the levels of $3.25. As this resistance will be broken in the near future the stock should move upwards to our medium-term target of $3.53. With use of “Average in strategy” and little bit of patience we see a good short-term trade opportunity for all our Investors.
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