Looking at markets overall Dax bounced off monthly support and 38.2 percent Fib retracement as well as 200 week and 50 month SMA so potential for a rally of back to 15000 or roughly 15 percent if those lows are retested and rejected.
Dax has suffered more than most with Ukraine's situation so chart suggests some sort of ceasefire albeit temporary and as it's gone down in a straight line there will be a lot of short positions to cover.
It can't rally on its own so US And Aussie indices should follow.
Zip as a high beta stock has potential for a good bounce and as I said before it's not in the instos interest to move it down in a straight line as they don't make any money.
Although ultimately my view is it's going to Zero the instos need it to have reasonable rallies on the way down so presents trading opportunities.
Ive closed my short position now and will just short into any rallies and close into any sell offs. Rinse and repeat
Looking at markets overall Dax bounced off monthly support and...
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Last
$1.83 |
Change
-0.020(1.08%) |
Mkt cap ! $2.310B | |||
| Open | High | Low | Value | Volume |
| $1.83 | $1.85 | $1.78 | $27.05M | 14.90M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 30000 | $1.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.83 | 193359 | 7 |
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| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |