Intermediate term bearishness in Micro Cap (CPI induced)
ZAX is showing intermediate term bearishness. Trend-Supp has been broken after rejecting historical resistance + RSI < 50. Year change > 0 so LT up trend still on place. Stop: $ 5480 (above bearish candle and 50DMA).
1 Target: Important Sup in $ 5260ish (B:R 1:1 approx.)
2 Target: $ 5180 (B:R 2:1 almost).
“Avoid the crowd. Do your own thinking independently. Be the chess player, not the chess piece.” ― Ralph Charell
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“Avoid the crowd. Do your own thinking independently. Be the chess player, not the chess piece.” ― Ralph Charell
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.