As some of you may know I am monitoring this relatively unknown stock for a while since it was at $2.00 per share and currenly this stock is being traded around $8.00 per share, a 400% increase.
Link to first idea
ZKIN is now in full bull run mode and it's not easy to say where will it find a resistance and see a correction as it's really overbought.
ZKIN is breaking into new highs day by day, without any strong pressure and if there is some, it gets immediately bought.
The next target for ZKIN is located at psychological resistance, $10 per share.
MACD is currently in a second strong buying wave and bullish momentum keeps increasing as we can see on histogram.
RSI is strongly overbought above 90 area, but it's hard to say if it's going to have one more push to $10 or see a correction.
20 and 50 EMA lines are in a very strong uptrend as the price is highly above 20 EMA. This is not ideal as a sharp correction can easily be seen all the way to $3.50 without impacting the overall daily uptrend.
However the price can still go sideways and wait for the EMA's to catch up, that would be a sign of share owners not willing to sell.
If you are looking to trade this stock, it's hard to buy dips as there are almost none so buying a break of recent high at $8.66 would be my approach.
Good luck!
Link to first idea
ZKIN is now in full bull run mode and it's not easy to say where will it find a resistance and see a correction as it's really overbought.
ZKIN is breaking into new highs day by day, without any strong pressure and if there is some, it gets immediately bought.
The next target for ZKIN is located at psychological resistance, $10 per share.
MACD is currently in a second strong buying wave and bullish momentum keeps increasing as we can see on histogram.
RSI is strongly overbought above 90 area, but it's hard to say if it's going to have one more push to $10 or see a correction.
20 and 50 EMA lines are in a very strong uptrend as the price is highly above 20 EMA. This is not ideal as a sharp correction can easily be seen all the way to $3.50 without impacting the overall daily uptrend.
However the price can still go sideways and wait for the EMA's to catch up, that would be a sign of share owners not willing to sell.
If you are looking to trade this stock, it's hard to buy dips as there are almost none so buying a break of recent high at $8.66 would be my approach.
Good luck!
