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ZSAN

1D ZSAN pattern analysisHere is what i see on a daily chart...a down trend that consists of a (1,2,3,4) runs & retraces and it already has shown to repeat itself twice. - Measuring the firs Leg 1&2 with Fibonacci Retrace gives us retrace point at 61-50%, bouncing of an outer trend line. - Measuring sequence of 1,2,3 with Fibonacci Extension gives us a second run 3&4 at 61% ($2.59), bouncing of support trend line formed by previous pivot. Second sequence 1,2,3,4 is created, providing us with the same measurements. -Fib.ret. is at 61-50% + trend line -Fib.ext. bouncing of 61% ($1.34) However second pattern is starting to come short on Indicators(drawings). *Formation of the third pattern sequence is failing to repeat itself. *RSI shows compression up. To me that is another indication that there is a change in price behavior. I still believe there is a chance for price to go as low as $1.10-1.05 or somewhere near it. This price is likely to go though compression and consolidation before any significant move in up. Thank you for reading =) And happy trading! -------------------------------------------------------------------------------- PLEASE NOTE, this is my personal opinion and analysis, non of the information above constitutes any form of investment advise.
ZLong
by freedom_fighter
ZSAN price action analysis on 1M chart-October: bull closes inside previous bear -November: no continuation on neither bull or bear positions. -December: price drops lower closing with bear at the price area of previous 4 month. Hold price area at $1.55 Note: price will be fluctuating during a month time between $2.18 and $1.55 (for a small in and out day trades) Bar tails indicates speculation on weather to push price higher or get the price lower at that area, that could be due to the fact that on Dec.23rd 2019 company submitted for FDA approval in march 2020. We will need to see 2 more bars that will confirm the future strength of this stock. During that time the price however can drop as low as $1.11-1.07. Ideally that should be the bottom of the price where the sell rejection forms a tail of the Feb candle,followed by closing at the trend line with previous candles bodies. As far as RSI line is compressing up closer to the gray area while bar chart gives a new LL of the trend, it tells me that strength of sell pressure is leaving and there could be a potential move up. What I would like to see is January bar to be indecision bar(trading between range), February bar to have a drop to its lowest closing at the end of the month inside or near trend line (indicating no sell interest), and March being green bar with indication of price continuing higher after hopefully successful FDA approval spiking the price up at least to a 38% fib. retrace at $3.33 with crossing at orange Mid band. If so, me personally would be looking for entry around $1.11 with a target at $3.33 (38%) ----------------------------------------------------------------------------------------------------------------- PLEASE NOTE, This is my personal opinion and analysis, non of the information above constitutes any form of investment advise.
ZLong
by freedom_fighter
ZSAN TECHNICALSThis is an attempt to explain why I have zsan at buy until 4.65. Analysis shows that there is a fraction of remaining equity from the large purchases made earlier this month. I believe the chart says the price reads 4.55 but needless to say i'm being rather gracious with 4.65. Essentially a discussion of behavioral analysis of a stock on a short term basis from a candle stick chart. I'll try to act with this tomorrow, but it feels difficult to size a position of such a small portion of remaining equity within the market. Which leads to the ending question, Do you believe it is wise to gamble for a small portion of the remaining pot?
ZShort
by brikkity
Zsan AnalysisIn large, for my account, on Zsan tonight. I think tomorrow morning presents an interesting opportunity, one I would like to discuss with other traders on the market. To me, with the exception of this weeks poor performance on the Dow, markets look bullish. This serves as the underlying general principle of the trade. Specifically on Zsan, I believe these bullish markets in conjunction with healthy volume(which I've analyzed in some detail) has led to a severely undervalued stock. Current equity for me is close to market and market stands at 6.23 on the close. In regard to Zsan's drop today, I believe this is most likely a short term bearish move, quiet possibly the result of larger firms selling their winnings from days prior. The big question tonight, the one which I've vested a great deal into, is A) If markets at large are performing bullishly/Dow J will see future performance and B) If the squeeze on Zsan is too large and the resistance I'm reading is not the resistance of a market prior to upswing, but of a market prior to complete sell. There we go, that's my first tradingview post. Please do what you guys do with this, whatever that may be, maybe one of you guys can give me something important.
ZShort
by brikkity