Last February 7, 2019, I published my analysis on Zeus Holdings, Inc. and said that you should buy below 0.34.
Did it touch the line below 0.34 after February 7?
It did. In fact, it touched 0.305 last February 19, 2019.
You better to read “ZHI – Zeus Holdings Technical Analysis: Ride Now or Enter Below 0.34?” if you’d like to know what I saw on ZHI on that day that made me accurately call the shot to enter a new position below 0.34.
Today, ZHI appeared in the Top Gainers list with a 12.16 percent Day Change and total turnover value of P54 million.
What’s New on ZHI?
This issue breached the resistance at 0.41 today, coupled with a volume that’s above its 10-day volume average.
The short-term term moving averages are hovering the long-term moving averages. That’s the kind of alignment you would want to see, especially if you already have the stock in your portfolio.
What I consider as the main support is the one at 0.31. However, you have to pay attention to 0.37 also since it’s in confluence with 61.8 percent of the Fibonacci retracement. The major resistance is at 0.47.
MACD has already crossed above the signal line and the price is above the 10-day simple moving average.
If you are very familiar with the three criteria I’m checking to identify my buy signal, you know that this is not the perfect price to enter a new position because the price has already been moving above the 10SMA even before MACD crossed above the signal line.
The perfect sequence is this: MACD should across above the signal line first before the price moves above the 10SMA or both events must happen at the same time within the same trading day.
Anyway, for those who already have a position on ZHI, this phenomenon is still a good thing for you.
ZHI has an extremely high-risk level with its volatility score of 134 percent. This is not a newbie-friendly scenario.
If you’d like to trade the name, watch out for this range by the next trading day: 0.385 to 0.415
That’s the range that got the biggest volume and the highest number of trades.
This is Volume Review is one the cool features of FirstMetroSec PRO.
Normally, you need to either trade a cumulative amount of P100,000.00 in one month or maintain a stock or mutual fund portfolio of P200,000.00 to be eligible and get access to FirstMetroSec PRO.
But if you attend any of events, organized by Equilyst Analytics, Inc., we will submit your details to First Metro Securities so you can get 2 months free access to FirstMetroSec PRO as soon as you open an online stockbroker’s account with them. Yes, you don’t need to hurry anymore to trade a cumulative amount of P100,000.00 in one month.
My Overall Sentiment and Recommendations
Follow your trailing stop loss if you bought ZHI below 0.34 or sell once it hits a strong resistance level.
If you don’t have ZHI yet, calculate your reward-to-risk ratio. If your potential reward is significantly bigger than your potential risk, do a test-buy within that range I mentioned above. Compute your trailing stop loss also so you will know what to do should things go against expectations.
Are you looking for a more in-depth and personalized recommendation? Would you like to ask me directly as trading happens? If your answer is yes, subscribe to Equilyst Analytics. You will get access to my investment guide for long-term investing, trade setups for short-term trading (daily videos), and direct access to my consultation service through our online Private Clients Forum.
Moreover, I conduct workshops on my personal and proprietary strategy in stock trading and investing. It is my deliberate intention to limit the seats to 30 per batch so I can answer all of the questions of the attendees in the 4-hour workshop. Check out my workshops in our Events Directory and buy your ticket immediately to reserve your seat. Reservation is on a “first come, first served” basis.
Latest posts by Jaycee De Guzman (see all)
- WLCON Depot Technical Analysis: Buy the Dips or Not Yet? - July 19, 2019
- TECH Technical Analysis: Buy While Oversold? - July 18, 2019
- Prime Media Holdings Technical Analysis: Buy Now or Wait for a Breakout? - July 17, 2019