ZIP trade ideas
Z1p LongZ1p has followed the same channel regarding previous highs and lows,
I expect a sell off soon as we approach resistance and form a small cup and handle
new hands come in looking for an afterpay type situation.
We hit all time high
Previous disillusioned sellers return with FOMO to ride the wave to a new ath that is within the long term channel.
[EW] ASX:Z1P Wave 2 completion off of stupid comboSo the sideways action that Z1P was stuck in from June to December after that gap up does seem to be a valid combo wave.
Based on the price action since I'd say it's most likely ended.
Projecting a fib ratio of wave (1) from (2) and taking the 1.618 ratio gives us a price target of $14.70.
Not financial advice, DYOR.
Quick Scalp on Z1PThis was very interesting today, first it was not on my radar this morning, once it gaps up I thought I will go for a buy, then for some reason I was trading it like a demon. I was gambling with this stock today and I was trading emotionally.
On the one minute chart my entry was all over the place, I think moving forward if it gaps up wait for a pull back once it come to the high then go for a break out trade. If the gap up but goes below the opening price let it go though then wait for a rally then go for your short and vice versa if it gaps down.
Zip Co (Z1P) FY 2021 Bull TargetsAs you can see, Zip Co have recently started gaining momentum upwards, after trading and consolidating at SPP range for a few weeks. this has been significant as it started show signs of strength that is maintained, and can continue to the rest of the year. Fundamentals are looking strong, and Technical analysis are certainly backing it up. at this current rate, I wouldn't be surprised if we reach the fib target at 20-25$ BY THE END OF THE YEAR. it held the golden .618 fib support and continued a strong rally towards ATH. I took a position at 5$ and very confident with the trade for the next 3-5 years. short term target however is 25$. long term target is 50$. if there are heavy shares buy back, expect a higher long term target.
Z1P - What is Next?Z1P broke out strongly last week as expected and was got rejected immediately when it reached its previous Resistance Zone of $8.30 - $8.50. Currently it is hovering between the range of $7.00 - $7.70. I think we could see a bit of consolidation before it continues going higher. I think the best level of Support is around $6.60 - $6.70, which is the Trendline (Neckline) support where it got Support a few times before as well.
We can also see the RSI currently coming down from the Overbought Zone, which may be indicating that Z1P may retrace a bit before taking off. My Initial Target now will be the main Resistance Zone of $10.00 - $10.50 Zone.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ZIP:ASX - ZIP CO - Could be at a support / value areaZip has been pretty volatile of late hovering up and down around that $6 mark. Seems to be back at a support area and with the RSI pointing up and below 40 it might be about to head back up from its oversold area. Stops are in tight, but could be worth a look at these levels.
Z1P tests resistance✔ Facebook Partnership
✔ Ebay Partnership
✔ Harvey Norman Partnership
Holding above the 200 Daily MA Z1P prepares to break out above resistance.
Z1P recently announced a SPP (share purchase plan) @ $5.34 per share. Ending on the 13th of Jan, the SPP may lead to a sell off as the current price is 3.8% above the offer.
Long term growth remains promising
- BreadCharts
Has a wave 3 higher begun?Looking at the weekly chart, the earlier wave 2 retraced nicely into the 50%-61.8% zone of wave 1 and we potentially see the beginning of an impulsive wave 3 higher, initially fueled by the strong quarterly results. We saw a large volume spike this week and the MACD is beginning to cross on the weekly timeframe, further confirming this view. We're looking for a break and hold above $10 to confirm it's heading to $20 in the coming months.
Is this the right time to get into Z1P?Z1P was once a payment darling just next to ASX:APT . But ever since the spark in Aug, its stock price has been consolidating down to $5 range.
On the chart, it's fairly confirmed they have strong support at $5 range, and now they are issuing a public offering with issue price under the SPP is $5.29 per share, which encourages me to take a more bullish view on them with very good risk reward ratio.
I will try to build some position @$5.7 with stop loss at $5.28, looking for a breakthru @$6.5 in 1 month, pending other catalysts to pump its price back to $7.50 range.
$Z1PUpdate**
Z1P has broken out of the descending triangle from its head & shoulders correction pattern.
Z1P currently is on its new trajectory making higher highs. Good sign for long term hold until targets are met.
Slow and steady wins the race- Revenue announcements/US stimulus might propel this stock onwards and upwards.
For long to mid term analysis, please see my last post-
Z1P looking strong on the daily MA'sZ1P looking like it can turn around and go for a run to $7 first target. Has been bouncing off the 200MA on the daily for over a month now. The base seems to be in and just needs a catalyst for the next move up with volume. If you were to buy in now, trailing stop loss of 10% should be suffice. How i see it playing out next week is a move above and hold the 50MA for a few days as it breaks through $6.00 resistance. Once through $6, dont see why it cant move to $7 in a matter of days.
Nice low risk entrylike this setup for a few reasons. Great entry point IF you have conviction that BNPL is still ina bull market and in ZIPs cult factor
- filled teh gap (well the second one anyway), had all that excitment and FOMO and drifted back down to its breakout level
- been trading last 5 weeks in a tight range
- volume dried up so on good news / sentiment it could spike up again
- RSI uptrend on daily
ZIPPAY Falling Wedge| Local S/R| Swing high| Price Action Evening Traders,
Today’s analysis – ZIPPAY- trading towards its price action apex where a breakout is probable,
Points to consider,
- Price action apex
(Falling Wedge)
- .618 Fibonacci S/R Support
- Local S/R Resistance
(.50 Fibonacci Confluence)
- Declining Volume
- Oscillators Extended
ZIPPAY’s immediate price action is likely to have a break from its falling wedge pattern, typically a bullish formation once confirmed.
The .618 Fibonacci is channel support; a wick down here is probable allowing for a long based entry.
Local S/R is immediate resistance that is in confluence with the .50 Fibonacci, price action exceeding this level is likely to continue its overall trend.
The volume profile is currently declining with both oscillators; a reversion to their mean is probable with an influx in volume.
Overall, in my opinion, ZIPPAY is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work!
And remember,
“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee,
ZIP Co Long OpportunityBased on long term trend and continued increase in Profits a good potential long opportunity is building. Strong support area's converging along a potential 61.8% Fib retracement from COVID low areas.
Best buy in price could be around $4.80-$4.90 with a stop loss around the $4.50 mark and first Take Profit (Trading not Long Term) around the $10 area.
A good divergence on Price and RSI+MACD is starting to play out too indicating a potential reversal. Always do your own research!
ZIP PAY Long term ProjectionsZIP pay looks to be beginning impulsive price action to the upside, 1st wave has 5 wave structure with valid sub wave divisions. Entry at current prices is reasonable with a stop under 5$. Long term goal of 50$.
Weekly head and shoulders for z1p.Z1p has just raised 100m at $5.41, but given the TA i dont see it going any higher.. for me to trade it again would need to have 3 strong weekly candles and go above $7. A risky trade offset by a stop loss at $5.20, if you wish to go ahead. *all based off TA, FA says it will get to $10, but time will tell. Ill look for an entry next year.
Who saved my Z1P?🤫🚨🚨🚀ASX:Z1P seems to bounce back but is the savior clement enough to let it shine once again or is it a bull trap before a plunge deep down in the bears dale? Lets deep dive and analyze.
If you remember my last post on ASX:Z1P I mentioned that this stock was playing with fire writing a H&S or head and shoulder pattern. Eventually it got caught up in its games and it started dropping. But who stopped that drop?
You can see the big red line on my chart, that is Mr 200MA that said nah nah to bears and gave another chance to Z1P.
But can we say the worst is over and we bouncing back? Of course not, not until we have either consolidated at the 5.3$ levels for few days and at least close one daily candle above 5.540$.
Besides the bullish structure is broken and we need bulls to come back. Also reading the orders book I can see bears still in control for a 2/1 force.
Other points to notice, stock below 8 and 21 EMA so not looking good imo.
I will keep my eyes on this stock as historically it has been a source of juicy profits and will update you when I find any tradable structure.
Stay safe and keep smashing the likes.
XTF
Zip could drop to below $4Zip seems to be fading. Broke out of the wedge to the upside but no follow through. Now holding on by it's teeth to $5.11. If it looses support at the recent lows of $5.03 then it's all the way down to $3.56 where it found previous support/resistance and to close a large gap. For those who hold this stock, lets hope the Christmas rally brings this stock more cheer and pushes the price up above $5.50!
Z1P Long term outlook for 2021I have done a very detailed analysis on Z1P for price targets for 2021.
I have done approximate measured moves from bottoms to tops for the last 3 cycles of big swings from 2018. They average about 5X returns over the course from bottom to top. Covid from bottom to top is 7X ( this is an exception) so I wont be taking this fully into consideration. I have applied the Eliot wave theory on bull runs (12345) and ABC corrective waves on the corrections.
Head and Shoulders pattern has been confirmed which is a bearish move that usually breaks to the downside. ( this is happening now on the C wave correction. This is in the process of completing landing on support levels)
For those who are holding or currently underwater, the best moves to avoid a loss would be doubling down on Buy zone A and B. Dollar cost averaging down the C wave correction to support levels.
We are currently in the final C wave correction now which I think will bring us closer to the $4.50-$4ish mark before the next bull run of a new (12345) wave- I have done measured moves from past history performance with a fib extension.
Target 1 $12 -SELL profits-33%
Target 2 $18- SELL profits- 33%
Target 3 $24 – SELL profits-33%
After these targets another corrective wave cycle will happen (ABC)
This is what I believe the long term outlook of Z1P will have instore for 2021. I do not know the timelines of how quick these moves will happen. My charts are saying between Q2/Q3 2021.
*This is my own personal opinions and not financial advise.
Please look review the page and let me know what you think.
