📊 Ticker:
ZNOG📅 Timeframe: Daily Chart
📈 Current Price: $0.2445 (+3.92%)
🔍 Key Technical Indicators:
🔹 Parallel Channel: The stock is moving within an ascending parallel channel, respecting the midline (yellow dashed line) as dynamic support/resistance. A continuation within this channel suggests further upside potential.
🔹 Fibonacci Levels:
The stock is testing $0.27 (Fib 1.0 level) as resistance.
A breakout above could push it toward $0.38 (Fib 1.618 extension target).
A healthy retracement to $0.18-$0.20 (Fib 0.5-0.618) could provide a better entry before the next leg up.
🔹 RSI (Relative Strength Index):
Currently at 80.94, indicating overbought conditions.
If RSI stays above 86, it could signal a strong momentum continuation.
A pullback toward 58-60 RSI would be a more sustainable buying opportunity.
🔹 MACD (Moving Average Convergence Divergence):
Bullish crossover confirmed. The MACD line has crossed above the signal line, showing positive momentum.
The histogram remains green, further supporting the uptrend.
🔹 Volume:
Steady increase in volume suggests strong buyer interest.
A volume spike above the current 7M mark could confirm a breakout.
💡 Final Thoughts:
✅ Bullish Scenario: If ZNOG stays above $0.24-$0.27, it could see an upside move toward $0.38.
⚠️ Caution: RSI is overbought, so a short-term pullback to $0.18-$0.20 could offer a better risk-reward entry.
🔔 Key Levels to Watch:
Support: $0.20 | $0.18 | $0.16
Resistance: $0.27 | $0.30 | $0.38
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.
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.