AngusMcK
Long

$Z1P - Starting to run up on the Bunnings announcement

ASX:Z1P   ZIP CO LIMITED
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Didn't spot this one as the market didn't react when the Bunnings announcement broke, but was reviewed on the YourMoney show and analysts are very bullish predicting mid to high $1.50+ type marks and believe it a better business model than AfterPay and less regulatory scrutiny.

From when I was in Retail we never liked to be first market mover on new tech, so always liked it when companies of a similar size did a deal and presumably all the due diligence. Always made the secondary sale a much easier decision to sign off on. Hopefully will open more doors for Z1P and drive more business and revenues.

I got in at .95. Lets see where it goes.

Zip Co Limited, formerly zipMoney Limited, offers point-of-sale credit and digital payment services to consumers and merchants. The Company provides a range of integrated Retail Finance solutions to small, medium and enterprise businesses across various industries, both online and in-store. The Company offers its services primarily to the retail, education, health and travel industries. Its products include zipMoney and zipPay. zipMoney is classified as a continuing line of credit and generally applied to various ticket purchases where a promotional interest-free period is applied, between 6 to 24 months. zipPay is a no interest ever digital shopping account and generally applied to various ticket purchases, such as fashion, accessories, food and hospitality. It supports prime, near prime and emerging prime borrowers by providing those customers with a revolving unsecured line of credit to finance their transactions.
Comment: Z1P has been running nicely. Its broken that magic $1 resistance mark and has tested and established it as support several times now. Bit of a slow burn right at the moment but a few more announcements and we should get some good solid upwards momentum.
Comment: Some nice volume coming through. Might be setting up again. I still hold :)

Comment: Trying to decide which way it will break :)

Comment: Still running nicely.

Comment: ZIP has had an AMAZING run all the way up to $4 before bouncing off. I have a stop loss in at $3.31 but am hoping I don't get knocked out before it runs again. Quite a lot of weakness in the volume and the RSI is still in the high 50's so not great value for investors yet to dive in, but it does look to be flattening out, so could go either way. Fingers crossed its run isnt over and its just having a breather before tackling $4 again. Can always buy back in though when it resumes its run if I do get dumped on my stop :)

Comment: Back up over $4 again and broken out.

Comment: Broke $5 today for the first time and looks strong

Comment: Looking like its in recovery mode again after the last pullback

Moved my stop up to $1.045 now Z1P seems to be behaving over the $1 mark. It touched $1.19 earlier so getting closer to trying to break that $1.20 resistance...
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Yep, I’m looking at selling at the $1.20 where I’m expecting resistance from the top line of the penanant drawn from the 4hr chart. Planning to buy back in on the pullback
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