ZK INTERNATIONAL (Healthy Correction?)

💎Technical Analysis Summary💎

NASDAQ: ZKIN

-My previous published idea and targets are achieved
-The price went even above my $10 target zone
-That is a strong bullish push up almost hitting the ATH
-Currently, the price has now retraced more than -50%
-And testing the 20D MA dynamic support range
-This zone is a confluence of 0.786 Fib level
-We can see a rejection candle pushing the price above the 20MA
-If the next daily candle turns out green on Monday
-This will increase our bias of $6 potential new support area
-And also, the chances to test the $9 region increases
-It would be a good rebuy opportunity if we are expecting another leg up
-Do not rush in, always wait for a good confirmation to reduce the risk
-This can be only a reaction bounce, not a true support confirmation
-So it is better to observe the market for another day of trading
-Because our main objective is to minimize the risk and maximizing our profit
-Always plan ahead and look at both market direction
-I will update next week once new data comes in

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Not Financial Advice 💸
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