Zip technical analysis Bell Direct market analyst Jessica Amir...

Zip technical analysis

Bell Direct market analyst Jessica Amir said that Zip had sold off since August, when Paypal said it would enter the US market, but these quarterly results were better than expected.
“They’re actually one of the fastest-growing BNPL players,” despite not having a dominant position its home Australian market, where Zip is second to Afterpay, she said.
“That’s pretty good going, you can’t complain if you’re invested in Zip today,” she told *.
Z1P has been a favourite of social media messageboards and Facebook groups over the past year.
“You talk to some of your friends and family, they’re buying Zip, they think it’s going to do well,” Amir said. “But if you look at its chart, from a technical perspective, it looks like it’s going to level off.”
The 200-day moving average looks like it is going to cross over ones for shorter timeframes, a bearish signal, she said.