ZIP at the end of a wedge. Which way will it go?????? Corto

ZIP CO LIMITED..ASX

Descripción

⋅ 18 de Nov. de 2020 0:37

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.

Comentarios

⋅ 20 de Nov. de 2020 2:40

Price has broken out to the upside but not a big bar. Will wait and see. No need to panic just yet.

Comentarios

AsimMirzaTrader

⋅ 26 de Nov. de 2020 22:27

Yes, you are right. we are also anticipating same. Yesterday's (26th Nov 2020) 3.58% up closing is still not a strong confirmation for trend reversal. we will see how it develops.

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