Technical Analysis: ZK International

Mar 23, 2021 | Swing Trading ZKIN using its last breakout

ZK International Group Co., Ltd. (ZKIN)

Entry Price/Stop Price/Target Price: 11.03/ 5.73/ 12.70.

Time Frame: 2-3 Weeks.

Description
ZK International Group Co., Ltd. is a stainless-steel goods maker and engineer. Steel strip, light gauge stainless steel pipe, pipe connections and fittings, pipe fittings to change pipe direction, pipe fittings to connect two or more pipes, pipe fittings to change pipe size, and pipe fitting tools are among the company's products. Its main markets are China, Europe, and Southeast Asia.

Thesis
A pretty unknown stock has made over 600% gains from $2 per share, as now it's being traded to almost $12 per share. The spike came about when the company announced it has currently gotten into NFT's recently as it's connected with blockchain. I believe the market is still pricing this information so we should be seeing more up moves for a quick short-term profit.

Technical Analysis
The price has broken its resistance of $11 and turned it to support. Will be looking for a quick consolidation for more upsides move. The recent price action has also created an ascending channel which is likely to keep going up, there is a possibility that price can fall slightly to $8.00 without impacting the overall uptrend and the 50-day exponential moving is located above this price. The MACD lines recently crossed over indicating a bull signal for the stock, the RSI indicates an overbought stock, but nothing out of the ordinary.  

Weekly Swing Trades

PNRG (Prime Energy)

October 2, 2022

Entry Price:

80.62

Stop Price:

76.85

Target Price:

88.04

Time Frame:

1 Week Hold

Expecting a short-term bump after a recent OPEC+ announcement regarding the a supply constraint to oil. The constraint would result in ~1M less barrels of oil per day, which should cause a price jump. Low RSI and bouncing off our 250 day moving average, both hallmarks of a good swing trade.

DV (Doubleverify)

October 2, 2022

Entry Price:

27.75

Stop Price:

26.75

Target Price:

29.00

Time Frame:

3 Week Hold

Using our moving averages heavily on this swing trade, look for continued strength as we try to notch out a 6-8% gain. Specifically, we are taking advantage of of a recent cross over in the 50 day moving average. Last week closed down, so wait for confirmation of a reversal.

Upcoming Economic Reports

Market Performance- Week of 09.25.2022

Recent Stories

Global Risk Continues to Rise

Oct 02, 2022 | A strong dollar keeps all swing traders on edge with market headwinds stronger than ever ...read more

FedEx Says Recession is Coming

Sep 25, 2022 | What FedEx said about a potential recession and how can Swing Traders make money off it ...read more

Dollar Weakness Gives Stocks a Rebound

Sep 11, 2022 | Stocks have a slight rebound as the dollar comes down, but what does it mean going forward? ...read more

Bond Market Signals More Trouble to Come

Sep 04, 2022 | What is the Bond Market Telling Us About the Market? ...read more

Weekly Watchlists

Community Access

The whole is greater than the sum of its parts”- Aristotle

Our Stock Trading Club is home to like-minded Investors, Bankers, Accountants, Financial Advisors, Economists, Finance Majors, Small Business Owners & aspiring Entrepreneurs who network with each other, learn and discuss stocks, and update each other on emerging stock market news every single day.

Especially for new investors, having a collaborative learning environment is crucial for long term success. In The Swing Trading Club there are NO paywalls or segmented discussions. Each and every member will have access to 500+ like-minded investors just a keyboard’s length away. So after signing up, please introduce yourself.

Weekly Review

Market Performance- Week of 09.25.2022

Recent Winners

SBUX (Starbucks)

SBUX (Starbucks)

Entry Price:

85.00

September 11, 2022

Price at High:

89.90

Return for Members:

5.76%

Timeline:

2 Month Hold

Strong momentum over the last few weeks. Watch for a mean reversion, but if moving averages stay consistent look for an early play to open the week.

PNRG (Prime Energy Resources)

PNRG (Prime Energy Resources)

Entry Price:

83.20

September 4, 2022

Price at High:

100.00

Return for Members:

20.19%

Timeline:

3 Week Hold

PNRG had a drawdown to historical levels of support (around the 100 day moving average). Looking to make an entry in the coming days as we also have macro tailwinds with the energy crisis in Europe.

PYPL (Paypal)

PYPL (Paypal)

Entry Price:

87.00

August 28, 2022

Price at High:

103.00

Return for Members:

18.39%

Timeline:

4 Week Hold

Playing off the dip in June, we're starting to see momentum as the 50MA is crossing over the long-term averages. Look to for momentum to continue and an early entry on Monday.

Recent Watchlist Winners

Join the Club