New Zealand King Salmon (NZK.NZX)

7 March 2019

Technical Summary: All in all it is a nice long term uptrend for holders of NZD. The picture on the one year chart looks a bit different however with the stock trading a the same levels that it was a year ago. IT has been a vew places inbetween however with the stock topping out at nearly $3 per share. The stock then pulled back to lows of $2.10 per share and has consolidated around this level. Interestingly, in the last few trading sessions there has been a low base breakout with the stock moving on big volume above the 50 day moving average. The stock has been consolidating over the last few trading sessions. This might make the stock buyable here for astute traders. More cautious traders might be concerned about some of the overhead resistance that looms on the left and decide to pass.

Low base breakout for NZK might make the stock buyable

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