ZIP trade ideas
Did anyone see this daily candle coming?Crazy day and volume for z1p. Definetly proving to the ASX its bullish. Shakeout under support line, followed by a break above then high volume breakout today to put it above long term trendline. Will be interesting to see how it plays out this week and next. Wouldnt enter it personally. I believe there will be a buying opportunity at $9, but thats not to say it wont consolidate here between the $9,50 and $10 mark before pushing up.
Z1P with a likely dead cat bounce.Bouncing around the support/resistance area, with volume similar to previous days of trading. I initially wanted to see the bounce and consolidate above trendline at the 15-17th march area, (with further consolidation for ideal move higher). But at the moment will need to sit on the sidelines and watch how z1p plays out next week before considering entering again. Chart is really only showing strength in the last 3 days (somewhat of a chopstick formation to form a bottom) and a move up on thursday.. MACD and RSI, for anyone that uses them are also showing better movement on the dailly.
Z1P - Could provide a buying Opportunity!Z1P's current selloff may be coming to an end and provide a buying opportunity soon. I think there may be some room left to the downside and could be supported on the trendline where my Buy Zone lies at the $6.80 - $7..00 range. I will be comfortable to buy in this range after it shows solid Bullish Price Action. My target for this trade will be the old resistance range of $10.00 - $10.50.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Z1P broke downtrend, but had no follow through.Big volume in the first hour to break downtrend, followed by a sell off the rest of the day.. news in regards to CBA offering a bnpl service for account holders didnt really help z1p today, but lets see how it goes tomorrow. There was alot of buying pressure in the first hour that makes me think that $8.40 is the new bottom.. so ive brought up my stop loss to that, and will add on a break of $9.12.
This sector is quite high risk at the moment due to the volatility. Bit given's z1p massive bounce at $7.80, it just needs to base around the $8.40- $9 area for the next 2 days while buying/selling volume comes in and shows us where the share price is going.
Z1P - A closer look at the Falling Wedge !What will happen in the week ahead for Z1P ? My guess is as good as yours, although I am leaning slightly to Z1P validating a counter trendline break as the money rotation slows.
The 0.618 retracement has been respected as resistance a number of times inside the falling wedge, as a result the $8.50 - $8.70 is worth watching closely. Additionally, Z1P at the longer time frame retracement (0.618) level is starting to get confluence in an oversold stoch, RSI, lower time frame MACD divergence as well which should act as strong support.
Z1P PerspectiveI post charts for my own future-proofing to avoid confirmation bias DYOR
When looking at z1p major trends with FIB there have been 2 times when it has retracted back to .618
2018 - 1.35 down to .75c forming a cup that eventually peaked at 5.77
2019-2020 - peak of 5.77 down to 1.05 rising to a top of 14.53
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Here we stand currently...
The goal is accumulation, buy low sell high...
Bulls Play
Bears play the Bulltrap
All Ord trends
z1p has a 2 sellers to 1 buyer problem.Chart isnt looking healthy, FA definetly not healthy and buy/sell book definetly not good (4m sellers to 2m buyers). Z1p is in for a defining week next week. I see good buying levels at the $8 mark if you believe in BNPL, but for now, high risk buy option for z1p, id personally stay clear for a few weeks to see how it performs.
Same goes for all fintech stocks, unhealthy Price action for me personally in that sector.
