ZIP - Major price gap to be filled at 3.90
Share prices have had many attempts to hold above the $6.00 mark but failed as per the chart below and head towards 5.35, a potential support level. Share prices need to hold above 5.35 to avoid further decline. A drop below 5.35 could lead to a closer move to fill the price gap at 3.90, created around June 2020.
Major support estimates - 5.35, 4.62, 3.90
Major resistance estimates - 6.00, 6.80 , 7.26, 8.00
ZIP trade ideas
Down Trend Confirmation, Next Buying Opportunity $4.65 ZoneBearish trend confirmation indications:
1. Formed Head & Shoulders and breaking the neck line
2. From last 6 weeks consolidating below the neck line, which make a zone of 6.75 - 4.75 which is a "NO TRADE ZONE" for us, we let Bulls & Bears decide.
3. Closing below the high volume price range that is $6.06
4. Next major support is at 4.65 range, which can be a good buying opportunity.
5. After 4.65 next major support is at 3.76, which can be a significant support and Best Buy zone.
Please note these are my own notes, by no means trading advise. Please do your own research before entering into any trade.
Z1P- Neckline BrokenZ1P is consolidating and coiling for some days now and expected to move lower as the Neckline is broken. Price is expected to move lower to either Support 1 or Support 2 (in that Gap Window) to give a very good buying opportunity and move higher from there.
Note: Please note these are my notes for my own future reference. By no means trading advise to anyone. Please do your own research before entering into any trade.
ZIP at the end of a wedge. Which way will it go??????Z1P has been caught in a wedge pattern for the last few weeks.
It's share price gapped up and after hitting All Time Highs, it's now settled down to sub $6.
The next few days will be a tell tale sign as to the direction of this stock - UP or DOWN????
The Rob Booker ADX Breakout strategy has this one as a Sell on the Daily chart - which means it's predicting it to go down to $3.90.
It's anyone's guess but if you hold this stock I highly recommend having a tight stop loss on this one, and buy back in when it reaches it's bottom.
Z1P RSI is back flipping into a bull runThe 1hr RSI chart appears to have broken out of its downward trend channel.
Supportive Relative Strength Index (RSI) Observations:
Last week the Weekly RSI fell below 50 and is still below at 49.0 after today's trading day for this week. This is the lowest Weekly RSI since the last week of April 2020.
Daily RSI hit 33.0 today. The lowest Daily RSI since 21st March 2020.
4hr RSI has hovered sub 30.0 for nearly 10 trading days (since 26th October 2020). Last time stayed below 30 for more than one trading day was between 21st Feb and 16th March 2020 (nearly 15 trading days)
ASX:Z1P about to Plunge to the abyss🚨👿🚨The charts dont lie. ASX:Z1P is drawing one hell of chart pattern if it is confirmed, ASX:Z1P bulls may have hard time. This pattern is none other than H&S . From ZIP has been hovering above 6$ for a while but apparently things start taking another dimension. It is not only hanging on a thread but also looks like it is waving bye bye to the extension we saw above 6$ and to the bull trend if the 5.8$ barrier is broken.
The chart shows it all and the H&S neckline is broken we may see price falling to the level seen earlier in May 2020. I am not excluding seeing the 3.7$ level where we have a strong base and support for this stock to prepare for further attacks towards the 10$ range. Also, remember of the gap between 3.7$ and 4.7$, although gaps dont necessarily have to fill, they most of the time fill, maybe this stock want to fill the gap. For now I am waiting for next few days to see if 5.54$ will be reached and to see if it will hold. If it does, I may open a small position that can be scaled if 6.3$ is taken.
I will keep you posted for any small change on this stock. For now it will stay on my RADARs.
Stay safe.
Z1P bounced off 200EMA on the 15min chartGiven the market conditions today (alot of red), z1p is holding well on the back of news. The news opens many doors for z1p in the future and allows them to be more competitive. Fundamentals aside, Technicals are showing a good bounce off the 200EMA and a follow through candle with a close above 7.45 would be great to see for intraday trades. Medium to long term, I can see Z1P making new highs. Given christmas is around the corner, place a bid with a stop loss along the trailing 43EMA and best of luck to holders.
Z1P - Short Term RetracementASX:Z1P
Zip has formed a head and shoulder pattern, and has broken through it's short term upwards trend channel. From here, looking for the price to retrace to resistance at around the 5.54 mark. After a good test at this level, this area will be good for a long entry.
Let's see how it plays out.
Welcome your comments, thanks.
Z1P bounces off 200EMAZ1P has bounced off the 200EMA and has had a controlled consolidation over the last 3 days. The MACD has crossed on the hourly, but i want to see the 20 and 43EMA's cross to confirm a reversal. Ive taken a position with a stop loss at 6.95.
I have also taken a position due to it coming to christmas and fundamentals say that people will start spending more.
ZIP bounces back at the critical support level around 6.90Share prices fell from previous highs at 8.34 but seem to have reacted to support level at 6.90 in the H1 time frame as highlighted by the indicator. Share prices have also fallen to around the bottom of the price channel and will need to maintain trading activities within the price channel to head back up.
The critical support levels to watch are at 6.90, 6.50, 6.25, 5.84, and 5.44. The current price targets to the upside are around 7.13, 7.54, 7.95, and 8.34
The current critical support and resistance estimates on the price chart are based on my indicator, predicting future price movements based on price action.
🔥 Z1P - Completing the RIGHT SHOULDER 🔥Afternoon All
After updating our previous chart on Z1P this is what we’re looking at right now:
- We’re currently at this key level of liquidity, we we’re seeing a lot of sell pressure mounting around that $8 level.
- This lines up PERFECTLY with our 50 Fibonacci level & somewhat completes the right shoulder of this huge formation
- If we’re to see this play out Z1P will be bearish from this level (thereabouts) and start moving back towards the 5.50 Demand Level, we spoke about in our previous Trading View Idea that I have linked.
- Our indicators are as follows:
o CCI is forming a bearish divergence
o RSI is forming the same
o Steamroller is looking like its firming entering Overbought and we’re looking like we’re well and truly stretched.
Looking forward to Z1P quite possibly completing this formation.
Z1P - The Final STAND- A move the next Demand Zone is on the cards, most of the indicators are pointing in this direction - Notably our home grown Indicator Steamroller
- After this a move to the 50 Fibs - Which lines up with liquidity on the left as shown by the white line
- This would complete a H&S scenario and could see us close the GAP and move to around that lower Demand Zone.
Bullish Momentum for Z1P Targeting $7.50Hello Fellow Trader!
Z1P has been well supported at $6.30 for the past week, even during that short term sell off after Presidential debate, buyers came back through holding price within this range.
Many signals on the daily and 1 hour are now suggesting further support to the upside, and a recovering Nasdaq’s 8% rise since the 24th of September suggests the tech/payment sector could well be back in force.
Key Points:
- Daily – Price above 50 EMA
- Daily – Price Above 200 EMA
- Daily – Range break out with increased volume
- Daily – Gap void between $7.50 - $8.00
- Daily - $8.00 Clusters with 50% Fibonacci Retracement
- 1 – Hour – Above 50 and 200 EMA
- 1 – Hour – Breaks $6.50 range
- 1 – Hour – Increased volume during long bull bar
Key Levels:
Support – 200 EMA, 50 EMA, $6.50
Resistance – $7.00, $7.50, $8.00
Entry Zone:
Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals.
Optimal Entry – $6.50
Supporting Entry – $6.70
Candle Reversals for entry
- Bullish Hammer
- Bullish Engulfing
- Bullish Piercing
The Risk:
As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios.
If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital.
IF: Price breaks below $6.20 level and violates 50 EMA – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter.
Reward / Reward Targets:
Optimal Entry $6.50 – Target 1 $7.50 = 3x Reward to Risk
Optimal Entry $6.50 – Target 2 $8.00 = 4.7x Reward to Risk
Supporting Entry $6.70 – Target 1 $7.50 = 1.5x Reward to Risk
Supporting Entry $6.70 – Target 2 $8.00 = 2.5x Reward to Risk