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>>5 Stocks the Pros Love This Summer
From a technical perspective, ZLC spiked higher here right above some near-term support at $8 with decent upside volume. This stock has been uptrending strong for the last two months, with shares soaring higher from its low of $3.76 to its recent high of $9.85. During that uptrend, shares of ZLC have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed this stock within range of triggering a near-term breakout trade. That trade will hit if ZLC manages to take out some near-term overhead resistance levels at $9.50 to its 52-week high at $9.85 with high volume.
Traders should now look for long-biased trades in ZLC as long as it's trending above some near-term support levels at $8.50 or $8 and then once it sustains a move or close above those breakout levels with volume that hits near or above 783,269 shares. If that breakout triggers soon, then ZLC will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $12 to $14.