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 )
Keeping it Simple with Price Action & Technical...
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Last
$2.38 |
Change
-0.040(1.65%) |
Mkt cap ! $3.107B | |||
| Open | High | Low | Value | Volume |
| $2.43 | $2.46 | $2.34 | $28.76M | 12.04M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 32053 | $2.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.38 | 259719 | 12 |
View Market Depth
| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |