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 )
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Last
$1.81 |
Change
-0.015(0.82%) |
Mkt cap ! $2.291B |
Open | High | Low | Value | Volume |
$1.77 | $1.83 | $1.72 | $35.46M | 19.96M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 51278 | $1.81 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.82 | 70000 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 51278 | 1.805 |
9 | 131244 | 1.800 |
3 | 349285 | 1.795 |
5 | 414448 | 1.790 |
2 | 65161 | 1.785 |
Price($) | Vol. | No. |
---|---|---|
1.815 | 70000 | 2 |
1.820 | 65272 | 5 |
1.825 | 114668 | 11 |
1.830 | 144957 | 12 |
1.835 | 85049 | 8 |
Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
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ZIP (ASX) Chart |