This whole week, zIP aka Z1P has been on fire. But was it a good time to take profit or it was too early? To me, indicators showed a sign of a overbought market, look at the RSI and the market hit a major confluence of resistances and it could not break it. This confluence is a 200MA and f0.5fib. This was a good sign that some profit can be taken off the...
ZIP - Prices are likely to continue to its next target at 2.55 and 2.65 if it remains above 2.45
None other than the famous fib retracement allowed me to buy Z1P and make a quick 8% on a single trade in one day. As you can see on the chart after being rejected by 50MA(find this in my previous post), I kept an eye on what could be a potential bounce point so that I can buy. First point was 0.382 which didnt prove to be strong enough to stop the bears. I waited...
Z1P got rejected at 50MA. Despite going above 0.236fib it got heinously rejected by the MA and a massive selloff ensued. For the moment the velocity is negative meaning it is better to not long till the indicators show otherwise. If you buy it can be with a tight SL like how id did it yesterday and for a short term hold. I will share my yesterday buy TA support in...
Buyers beware! We have strong reasons for a significant plunge on Z1P. After doing an impressive 5x in 2019, it looks like the party may come to an end for the bulls. Reasons for the trade: Potential Head and shoulders forming VPVR - Above value. POC @ $1.10 VPVR - Could drive a truck through that 69% gap in volume Money moves towards liquidity....
I will be buying into Zip Pay as the stages of a Wyckoff accumulation have occurred.
Confirmed Morning Star pattern @ demand in an uptrend for continuation to upside backed by increase of volume
Looking to go long on Z1P due to the fact that: 1. We have seen 5 consecutive closes above the 200 day MA 2. Last trading day closed above the 50 day MA 3. Volume over the 50 day MA Setting my Stop Loss @ 3.20 (SAR) to give it room to grow. Will be using a trailing Stop Loss for this entry, however i do believe this stock can rise back to all time highs...
Buyer have come into the market to break trend line that is backed by volume
looking for possiblity of complete corrections on ZIP. pictured above is one possiblity. below ill attach a second scenario that would see one more move down before upwards. either way.. im expecting this to continue up and past $6 soon.
Zip Pay to close above or below the 200 moving average tomorrow? Currently, the MACD, RSI and DMI, moving averages doesn't look good for Zip Pay. Therefore, more likely to go lower using technical analysis.
Daily has had three bounces off 3.43 support now. Needs a bit more volume to breakout of the recent trading range.
ZIP needs to hold above 3.70 to avoid falling to 3.45. A break above 4.00 could push prices to 4.30
Ill be watching closely how Z1P reacts tomorrow. It is sitting on support and also at the bottom of the Linear Regression on the daily. On the 4hrly it is sitting on the 200MA. If Linear Regression breaks on daily and 200MA on 4hrly we have broken trend and will go down much lower. If we have a nice bounce we should continue the upward trend.
Looking for a long position on Z1P. This is my defensive zone.
Recent reports from UBS may have contributed to the 20% crash in mid October allowing for a perfect buying opportunity. This position should probably be held for less than 3 months as the RBA is set to reform laws around the BNPL market.