It could bounce around between the old resistance ($1.60) and $1.80s for a while so could be some good repetitive trades in it. I was a bit bummed we didn't do much in the closing auction today but will see how it performs on Monday with first day trading on ASX200.
A lot can happen in the 5 weeks to FY results. US markets showing signs of THE BIG ONE in the last 2 days too. That's why it's annoying seeing some people here talking about Zip "blowing off steam" and "consolidating" for a month. What a waste of time and just gives it more of a chance to get caught in a US market sell off while we sit around "consolidating" and allowing instos to sell down their $1.56 purchases, or as GF calls them, guaranteed stop losses
I want my $2+ pump now with these announcements. Not in a month or two.
ZIP Price at posting:
$1.70 Sentiment: None Disclosure: Held
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