Ezion can be seen as a down trend stock and is below the 20 and 50 days moving average too.
It is currently sitting on the 0.32 horizontal support which is also around the downtrend line lower channel support. If the 0.32 horizontal support doesn’t hold again we might see further downside to 0.29 first . After which 0.265 might seem possible.
Oil prices are currently down so let’s see how it will affect our oil stocks and ezion tomorrow. Our stop loss could be at 0.35 or 0.36 which is above the 50 days moving average.