This is ridiculous.
Justify negative stance with your charting.
Target of $1.12 you say. It took a 40% market crash to hit that level for ZIP earlier in the year. That occurred in March on a full market crash due to COVID pandemic.
That is absurd and means a whole new pandemic needs to play out with a whole new disease for that to occur and generate a whole new market crash, would need to be worse than the last one. Even then people will not overreact as much as the last market crash in March. How many times have we had two market crashes 30% correction or more occurred within the same year? I would say zero.
You can see the natural support now is at $5.50 on Z1P.
I think the market will be soft and have some ups and downs but it will not crash like March again for a long time. The election will cause volatility maybe even a minor 15% correction if Biden wins then will move on.
Chart - Z1P, page-83
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 (20min delay)
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Last
$1.29 |
Change
0.045(3.63%) |
Mkt cap ! $1.442B | |||
| Open | High | Low | Value | Volume |
| $1.27 | $1.32 | $1.27 | $16.63M | 12.86M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 30048 | $1.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.29 | 290528 | 11 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.29 |
Change
0.045 ( 3.89 %) |
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| Open | High | Low | Volume | ||
| $1.25 | $1.31 | $1.25 | 2717786 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| ZIP (ASX) Chart |