I think Z1P has been trading in an Ascending Channel since 4th August (last 14 trading days). Support and resistance is trending upwards. Obviously this is in anticipation of a few things - e.g. Overall BNLP category growth, Zip Co FY20 Annual Results/EGM, ASX 200 Rebalance, and hopefully some other unexpected Zip news along the way.
Gainers are looking for a breakout of the upper parallel before buying more volume. Where as Shorters are waiting for a warning signal such as if the price is failing to reach the upper trend line frequently.
Key thing to look for is negative divergence between a popular indicator such as the relative strength index (RSI) and price. For instance, if Z1P price is making higher highs within the ascending channel but the RSI indicator is making lower highs, then this suggests upward momentum is waning.
Click here if you want to know what is an Ascending Channel?
$8 Party, page-962
-
- There are more pages in this discussion • 535 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add ZIP (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$2.16 |
Change
-0.060(2.70%) |
Mkt cap ! $2.803B | |||
| Open | High | Low | Value | Volume |
| $2.14 | $2.20 | $2.12 | $27.01M | 12.55M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 15000 | $2.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.16 | 117293 | 4 |
View Market Depth
| Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |