Long
Decision time for ZEL
Having successfully completed capital raise of 290m at $2.90 last week, Z Energy is now in the process of operating a Share Purchase Plan for existing shareholders at the same price or a 2.5% discount to the five-day volume weighted average. Considering NZ economy is closer to normal than most, and the strong oil rebound of recent days, there seems strong upside. However a break of the $2.90 support could see a retest of Covid lows and jeopardize the SPP raise.
Trade active
Bounced off stop loss and back to placement price of $2.90 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.