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
$1.27 |
Change
-0.040(3.05%) |
Mkt cap ! $1.430B |
Open | High | Low | Value | Volume |
$1.30 | $1.32 | $1.26 | $6.973M | 5.413M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 87782 | $1.27 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.27 | 50296 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 87782 | 1.265 |
22 | 253674 | 1.260 |
17 | 450324 | 1.255 |
32 | 394477 | 1.250 |
8 | 179906 | 1.245 |
Price($) | Vol. | No. |
---|---|---|
1.270 | 50296 | 2 |
1.275 | 28238 | 3 |
1.280 | 86796 | 6 |
1.285 | 185168 | 5 |
1.290 | 384736 | 6 |
Last trade - 16.10pm 17/05/2024 (20 minute delay) ? |
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Last
$1.27 |
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Change
-0.040 ( 2.51 %) |
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Open | High | Low | Volume | ||
$1.29 | $1.32 | $1.26 | 1921880 | ||
Last updated 15.59pm 17/05/2024 ? |
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ZIP (ASX) Chart |