hey mate, you don’t need a chartist guru to understand how zip SP is going to perform in the next 6 months.
here is the monthly chart & see for a pattern...two questions here
1. Did zip SP ever made a new ATH before touching the Lower support line? Never!!
2. Why recovery starts? 4th month from ATH, count the candle yourself.
there are two support line shown in this monthly chart...one shows long term & one shows from Covid lows. Which support line will be touched, I would say Covid lows because it is also a fib 0.786 retracement and value is 7.1$ approx.
what will happen if SP recover from here, the simple and easy answer is that it is Shorters money...they will keep knocking it down whenever SP gets 1$ gain
Chart - Z1P, page-6975
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Last
$1.80 |
Change
-0.023(1.24%) |
Mkt cap ! $2.050B | |||
| Open | High | Low | Value | Volume |
| $1.83 | $1.83 | $1.79 | $2.756M | 1.523M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 41358 | $1.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.80 | 30641 | 13 |
View Market Depth
| Last trade - 10.20am 10/07/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |