Like yourself I do not hold this stock.
I do however have a different view as to where ZIP is heading and it is the opposite of your predication.
I will offer 2 charts plus further analysis to support my hypothesis.
Daily candles
Weekly Candles
On both charts I have marked, by the green line and arrows pointing up to it, the $5 line that you are predicting.
On the weekly candle you will observe that I have given the last candle the "thumbs up" as in fact that is a hammer candle and infers that there has been strong buying pressure to end the week on a higher level than at the start of the week - and as you knowwe would need to see further validation of this in the next few weeks.
Apart from the charts may I proffer an opinion that Larry is setting up the company for greater opportunities through acquisitions and associations and these take time to meld into the existing business.
Lastly, the latest broker consensus has an overriding majority of brokers recommending a BUY position.Broker Consensus
Breakdown9 Buy· 2 Hold· 4 SellRecommendationBuyLast Updated14/09/21
Daily Price Movement / General Discussion, page-30644
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Last
$2.19 |
Change
0.260(13.5%) |
Mkt cap ! $2.772B | |||
| Open | High | Low | Value | Volume |
| $2.01 | $2.19 | $2.00 | $56.69M | 26.96M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 133683 | $2.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.20 | 235682 | 50 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |