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
$1.26 |
Change
-0.010(0.79%) |
Mkt cap ! $1.419B |
Open | High | Low | Value | Volume |
$1.28 | $1.29 | $1.26 | $7.825M | 6.159M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 36170 | $1.26 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.27 | 124309 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2774 | 1.285 |
1 | 79 | 1.265 |
4 | 76373 | 1.260 |
6 | 120975 | 1.255 |
27 | 395177 | 1.250 |
Price($) | Vol. | No. |
---|---|---|
1.260 | 9247 | 4 |
1.265 | 110768 | 3 |
1.270 | 40606 | 5 |
1.275 | 1 | 1 |
1.280 | 70000 | 2 |
Last trade - 16.10pm 20/05/2024 (20 minute delay) ? |
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Last
$1.26 |
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Change
-0.010 ( 0.73 %) |
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Open | High | Low | Volume | ||
$1.28 | $1.29 | $1.26 | 1817944 | ||
Last updated 15.59pm 20/05/2024 ? |
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ZIP (ASX) Chart |