ZIP - ASX Charts, page-59

After 83c, I would have to say a combination of things. Both chart wise and psychological round number of $1. Once we try to clear the weekly 100MA and go up higher towards 90c, everyone will be talking about $1 whether they're into charts or not. People love those big juicy round numbers and there could be a lot of selling up there. We also had a similar experience up there earlier in January this year but only got up to 92c before the sellers came in and took it down. The difference this time is that we will have the support and uptrend of all the important moving averages on the way up and will support us when sellers cash out. I expect a lot of little dips along the way into the $1 zone but also expect all the good news for BNPL and for Zip especially to keep supporting the price on dips.

At around $1 I move onto the monthly chart and see a real big hurdle of the Monthly 20MA at $1.05 which is same as that broker price target from last week. If we get well above the $1 mark, it's clear skies to around $1.30 which is where the 100ema weekly is.

For all this to play out, the good news for BNPL has to keep coming and the company itself has to keep bringing out good results on each update. I think Zip will really move once they get more press about going cash flow positive. We all know it's going to happen but a lot of the media is still negative when they write about Zip. Once the good news keeps coming through and they have less crap to write about in the media, I would say that $1.30 to $1.50 is a good target for some time in 2024.