Long
ZOM - impressive price action
ZOM broke out of a 22 months resistence @ 0.50 with a Breakaway Gap on 11 Jan (after some stealth accumulation for 2 months prior). Breakqway gaps occurs at the start of a trend and do not get filled (until one fine day when the stock finally turned bearish).
The stock has been trending nicely since, with a bull flag consolidation in the past few weeks before another strong move up yesterday. For those who have yet to stake into this stock, it is difficult to wait for a pullback (which may or not may not happen before it goes much higher). For those who do not mind taking calculated risk, consider to dip your toes in from 1.30-1.50, with initial stop several ticks below yesterday's large candle's low @ 1.16. Position size accordingly to cater for this wide initial stop loss.
Near term target of 1.75 (some resistence around here) should be pretty achievable and the longer term, I feel that 2.98 is definitely plausible. Protect profits with trailing stops at pivot lows on the way up!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
The stock has been trending nicely since, with a bull flag consolidation in the past few weeks before another strong move up yesterday. For those who have yet to stake into this stock, it is difficult to wait for a pullback (which may or not may not happen before it goes much higher). For those who do not mind taking calculated risk, consider to dip your toes in from 1.30-1.50, with initial stop several ticks below yesterday's large candle's low @ 1.16. Position size accordingly to cater for this wide initial stop loss.
Near term target of 1.75 (some resistence around here) should be pretty achievable and the longer term, I feel that 2.98 is definitely plausible. Protect profits with trailing stops at pivot lows on the way up!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
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.