With Elliot Wave there are two counts a Primary Count and a...

With Elliot Wave there are two counts a Primary Count and a Secondary Count so you very quickly know if your primary count is wrong and can minimise losses

Another poster suggested Zip would not drop below $5.855 as he was counting that as top of wave 1 and the sell of from $10.60 as a wave 4 which cannot overlap the top of Wave 1.

i pointed out looking at the long term chart the move from $1.00 was a three wave not five wave impulse and therefore the strong probability is that the impulse trend is defined by the sharp sell off from $10.60. and the probability is high that it will therefore return to $1.00 or less.

i counted five waves down to $ 5.67 and we are now in a sharp corrective wave 2 .

Wave 2 typically corrects 61.8 % of the fall but can correct only 23.6% 38.2% or 50%.

Wave three down then follows which is typically the most powerful and often contains large gaps down

If I am correct it will move down in five waves so expect wave three to be a fall of more than $ 5.07

To accommodate that the share price needs to be $7 or above