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.

Comment:

Comment:

After the strong breakout to the upside, price got rejected strongly at the previous Resistance Zone of $8.30 - $8.50. Currently it is hovering between the range of $7.00 - $7.70. I am expecting a bit of consolidation before it continues going higher. 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.

RSI is currently coming down from the Overbought Zone, which may be indicating that Z1P may retrace a bit before taking off. Lets see how it plays out.

Comment:

Comment:

Z1P broke out of the wedge with conviction and high volume. it closed the week on the Highs indicating conviction of Buyers and I think it will continue marching Higher. My Initial target is $10.00 - $10.50 range and then much higher.