ZIP trade ideas
ZIP FIB AND HEAD AND SHOULDERSanother idea looking into the fib retracement lines and starting to see potential for a couple of patterns. first of all from the 19/3/20 to 15/4 that retracement almost made it to fib .5 before turning upwards. so just a basic repeat again but could be a little more difficult with the $3.00 support line might just hold it up a bit higher before climbing again. I've published this on a Friday when the market closed.
ive put in a order for zip at 2.88 hoping to jag it before turning around somewhere between fib .618 and .5
another interesting pattern is we have the left shoulder and the head falling to the right shoulder potentially. if zip becomes more bearish then food for thought.
however personally I'm more inclined to believe zip is going to continue to track upwards simply because they and the likes of APT (afterpay) are doing very well even in this climate, and firmly believe that BNPL is the future.
Why did i take some profit on ASX:Z1P ?! 👿🔥🔥👿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 table.
I will re-evaluate the market structure and decide when to enter for more upper target or sell my remaining positions if the market cannot keep the upwards momentum.
Atm z1P is still in the upwards momentum both weekly and daily.
I keep you updated if anything changes.
Stay safe.
ZIP - short term TAZIP - Prices are likely to continue to its next target at 2.55 and 2.65 if it remains above 2.45
Reason behind my Z1P long for yesterdayNone 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 for next fib which was 0.5. Although, price went below this point, bulls said nono enough is enough and pushed back which allowed me to jump on their pushback and bought some Z1P that I ended selling cuz I dont like the current price action. Velocity is negative, daily closed below 0.236 fib, price below 50MA, below LSMA,...
Stay tuned I will share with you any new update if the market shows buying opportunities.
PS: not a financial advice plz DYOR
Z1P aka ZIP strugglingZ1P 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 another post.
Thank you all my followers, I will keep you updated with a weekly TA for some of ASX stocks. Stay tuned.
ASX:Z1P - Liquidity feast for the bears resting belowBuyers 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. Significantly more below than above.
Gaps, gaps, gaps! Every green line represents a gap that will want to be filled in.
Confirmed bearish divergence in histogram
Sell signal active upon break of $3.51 level, representing the price with the second most volume traded (aside from the POC).
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Wyckoff Accumulation is occuring in Zip PayI will be buying into Zip Pay as the stages of a Wyckoff accumulation have occurred.
ASX:ZIPConfirmed Morning Star pattern @ demand in an uptrend for continuation to upside backed by increase of volume
Z!P LongLooking 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 relatively fast.
Z1P | Daily trend continuation forecastlooking 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?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.
$Z1P #Z1P bottom inDaily has had three bounces off 3.43 support now. Needs a bit more volume to breakout of the recent trading range.
ZIP-Down 3%, but might hold at the bottom of the price channelZIP needs to hold above 3.70 to avoid falling to 3.45. A break above 4.00 could push prices to 4.30
$Z1P sitting on supportIll 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.
Z1P late 2019 analysisRecent 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.
ZIP: ASX - ZIP Co Ltd- Potential support at 4.20ZIP share prices have taken a massive hit in the past three consecutive sessions and could be looking for much-needed support around 4.20 which is around the middle of the long term price channel highlighted on the price chart below. 3.90 is the next estimated support level if it fails at 4.20.
Support: 4.20, 3.90, and 3.40
Resistance: 4.75, 5.05, and 5.55
ZIP down to its 50% retracement level at 4.60ZIP fell 11% to its 50% retracement level at 4.60. if it fails to hold, the next stop could be around a critical support level at 4.40.
Short Z1P Did well with my short play on Z1P, gap up nicely then fail to pass $5.37. Got in at $5.34 with a stop at $5.39 with 1,500 shares. Reduce my position at 1 R by 30% then got out the rest at $5.26, quick scalp play to the downside.
I like to calculate the stocks Standard Deviation of 1 year data, hence why $5.37 is a key level.
