Keeping it Simple with Price Action & Technical Analysis..
Observing a nice development on ZIP's weekly charts.. This is what I see..
* Stock in a downtrend since July-2022, with the last low before that at 0.435
* This support was broken in Aug.23, and we can see 3 attempts to break through the resistance between Jul-22 and Aug.23, failing each time.
* The Support at .435 was retested in Jul'23 and failed in Aug.23, making it a new resistance zone.
* Looking at the recent week's pin bars and doji candles, and the divergence on momentum indicators ( not shown here), the stock looks to have bottomed out at 0.255.
* Higher highs and lows on a weekly basis for the last 4 weeks, and this week it has finally closed ABOVE the resistance trend line since Jul'22. This will need to be monitored till the end of this week.
* If that is successfully broken and retested, then the reverse of the trend may be confirmed.
* Key level will be what it does when it reaches 0.435 ( Yellow ??? on the chart )
ZIP - ASX Charts
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 (20min delay)
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Last
$1.25 |
Change
0.015(1.21%) |
Mkt cap ! $1.367B | |||
| Open | High | Low | Value | Volume |
| $1.24 | $1.26 | $1.22 | $9.222M | 7.407M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1495 | $1.24 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.25 | 485884 | 3 |
View Market Depth
| Last trade - 16.10pm 30/04/2024 (20 minute delay) ? |
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Last
$1.24 |
Change
0.015 ( 0.59 %) |
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| Open | High | Low | Volume | ||
| $1.24 | $1.26 | $1.22 | 1338872 | ||
| Last updated 15.59pm 30/04/2024 ? | |||||
| ZIP (ASX) Chart |