Ezion Holding is Forming a Symmetrical Triangle. Ezion will probably start down trend if 200D MA support / Triangle support at about $0.68 is broken. Keep a close eye on the breakout before deciding next step.
Ezion Holding is trading within an Up Trend Channel for about 6 months. Whether Ezion can continue to stay within this uptrend channel for swing trading strategy, it all depends whether Ezion can break this critical resistance of about $0.70. This level is the combination of resistance of 3 Moving Averages and 78.6% Fibonacci Retracement Resistance.
Ezion is currently trading in a Down Trend Channel. The stock is forming a “Lower High, Lower Low” chart pattern.
Downside risk is higher because Ezion will be facing a few resistances between $0.67 to $0.75:
If the Down Trend Channel pattern is still valid, Ezion will probably go below $0.573 in the next few months.
