Monday open, page-70

Here is my plot - I am not saying I am 100% correct, but only time will tell. First of all, I personally think ZIP is a very good company - the fundamental has no problem, and I am using ZIP for purchasing many things, but this type of company always suffers a lot during the economic recession. And I think this time is not like 1987, not 2008, it is the eve of 1929 (the great depression). I expect the stock market might further drops this week - ASX and all US indices just bounced last Friday, but they are still below the three-year neckline which is a very important support line. This Thursday and Friday would be the option expiration date for US market, we might see extreme volatility by the end of this week. I hope I am wrong, and I really wish all countries can control the coronavirus very well, and the economy can be back on track.

From purly chart perspective, the head and shoulders pattern is very clear. The amount of falling is calculated from the head to the neckline (green line in chart). So we should expect to see equal amount of falling from neckline to the bottom - in this case, it is about 60-70c. But I guess it might get some support if it really drops below 1 dollar, so ATM I would say the entry point is about 80c. But I am sure it will show some consolidation pattern at that level - and I might enter when I see the signal.