Technical Summary: Shares of ZEL were running on a nice little uptrend until November 2016 where they pulled back to around $7 per share. SInce that time they have been range bound, generally finding support at around $7 per share and resistance at $8. This has continued into 2017. There is nothing on offer here for trend followers and is instead more suited for mean reversionists. The shares are currently trading at close to the $8 mark and therefore are sellable from a mean reversion perspective. These traders may find it suitable to buy the stock when it shows strength at $7 per share. Stop losses are to be used if the stock breaks meaningfully below $7 per share.
