Trend reversal or no reversal? On the daily chart oscillators, the Stochastic shows the %K is below 20, suggesting it has been oversold and a 'small' crossover (%K over %D) has occurred indicating a turning point in favour of buy momentum. These two events on the stochastic combined indicate a trend reversal and a buy signal. However, the MACD oscillator doesn't seem to showing a trend(reversal)-confirmation (crossover of MACD over signal line) and still in a 'bearish' divergence zone.
IMHO, I do believe a trend reversal is due but I less confident in the strength of its momentum due to the stochastic crossover being small and without a MACD confirmation.
Chart - Z1P, page-6801
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Last
$1.46 |
Change
-0.035(2.34%) |
Mkt cap ! $1.644B | |||
| Open | High | Low | Value | Volume |
| $1.50 | $1.54 | $1.45 | $19.96M | 13.39M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 104211 | $1.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.47 | 50000 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |