ZKIN is one of those very volatile stocks that are pretty easy to scalp as a break of certain levels (such as currently $2.40, $2.60..) usually leads to a volume spike, both to the upside or downside.
And these breaks happens currently often as..
..as the price of ZKIN has recently broke the weekly resistance located at $2.00 per share, which was a barrier for almost 2 years! So now the price should be in the opposite of a free fall.
I am not primarily focused on stocks, but this company also utilizes blockchain, which I found attractive and futuristic.
Here is my setup idea to buy the uptrend.
Buy at $2.20
Sell at $2.60 - 18% profit
Stop loss at $2.10 - 4,5% loss
Risk reward - 4:1
As the dips continue to attract buyers I look to buy the dip. On this price point of $2.20 are many technical support keys such as:
1.) 4-hour uptrend line
2.) 50 EMA
3.) Support level at $2.20
Thanks for your time and good luck with this idea! Let me know what you think.
Tibor
And these breaks happens currently often as..
..as the price of ZKIN has recently broke the weekly resistance located at $2.00 per share, which was a barrier for almost 2 years! So now the price should be in the opposite of a free fall.
I am not primarily focused on stocks, but this company also utilizes blockchain, which I found attractive and futuristic.
Here is my setup idea to buy the uptrend.
Buy at $2.20
Sell at $2.60 - 18% profit
Stop loss at $2.10 - 4,5% loss
Risk reward - 4:1
As the dips continue to attract buyers I look to buy the dip. On this price point of $2.20 are many technical support keys such as:
1.) 4-hour uptrend line
2.) 50 EMA
3.) Support level at $2.20
Thanks for your time and good luck with this idea! Let me know what you think.
Tibor
