Notwithstanding the negative sentiment for BNPL lately, the macros this week really haven't helped Zip at all.
The movements this week on the Nasdaq are caused by Biden choosing a new Fed chair (Powell v Brainard) and the uncertainty around the possibility of having a new Chair (the market doesn't know what Brainard will do r.e. inflation, interest rates and QE) and the obvious average inflation numbers that came out last night.
Marco sentiment will improve if Biden elects Powell as Fed chair again. Sentiment will drop even more if he elects Brainard, as currently the market bets a 70% chance of Powell getting the job. If Biden surprises us all then we'll see further selling pressure.
If Biden elects Brainard, I see $5.70 on the cards, if Biden comes out soon and elects Powell, then i would think this again provide a nice buy the dip opportunity for Zip.
However, Zip price action is still stuck in a descending triangle pattern, meaning even if Biden goes with Powell, I would want to see confirmation of this pattern breaking before buying more Zip.
Notwithstanding the negative sentiment for BNPL lately, the...
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Last
$1.61 |
Change
0.030(1.90%) |
Mkt cap ! $1.808B | |||
| Open | High | Low | Value | Volume |
| $1.60 | $1.63 | $1.57 | $24.95M | 15.57M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 61455 | $1.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.61 | 118285 | 9 |
View Market Depth
| Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |