ZKIN 3D Is it H&S work out beginning and the way only up?

Dec 1, 2020

ZK International Group Co., Ltd. is a holding company specializing in the design, manufacture and supply of patented high quality stainless steel and carbon steel pipes, mainly used for water and gas supply.
Their feature is the use of blockchain technology in the production process.

ZKIN is the holding stock, which has been traded on the Nasdaq since September 2017. Trades started at the mark of $8, and at the beginning of 2018 the high reached $16.

The downtrend of the ZKIN campaign lasted throughout 2018.
The whole 2019 and 3Q. 2020 the accumulation of shares by institutions has been continued. The accumulation looks like the classic reversal trend figure a Head and Shoulders.

25.09 - $1.4 million was attracted which could be converted into 2,370,968 ordinary shares of the Company.

On 25 November, with the opening of the trading day, there was an anomalous surge, forming a solid Gap.
Within an hour of trading, buyers were able to achieve the first target of testing a Head and Shoulders figure.
Now, according to the canons of TA, the price should fall and close the Gap to the level of $1.76.
The Gap closure may also coincide with the testing for strength from above Head and Shoulders base.

If the strength test is successful and buyers continue to actively buy shares, then the next targets from above are $3.20, $4.60 and even $5.90.

The zone where the bears will start to feel comfortable is just under $1.