ZOO's in the doghouseMarket has punished ZOO's weak trading statement accordingly.
Gapped below 86.5 support and is now below the 200 moving average. What's not to dislike?
ZOO trade ideas
Zoo Digital Group holding at £1.00Zoo Digital Group is holding at the £1.00 round number support zone.
Price is also at a previous resistance level turned support which we also want to see hold price up.
On the Weekly and Daily chart we can see price is above the 50 & 200 simple moving averages, which means that the overall trend is bullish.
From October 2017 to January 2018 price was in consolidation but now price has formed a nice trend and we just need to now wait for a breakout to confirm the resumption of the bullish trend.
In October 2003 price made an all-time high of £16.69 so there is a lot of room for price to move before it reaches that area, so there is potentially a lot of profit to gain before then.
The next major area of resistance will be the psychological £10.00 round number.
As this recent pullback is not too far from the previous high, it would be best to wait for a breakout before looking to take a trade.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
