ASX:Z1P has been on fire today after announcing its acquisition of Quadpay. But is this the only reason it zoomed high or the TA has all he explanations? Lets dig deep and analyze.
Today ASX:Z1P aka ZIP has zoomed 41% high but checking on the chart I can say that the stock has been bullish since its bounce back from the 200MA. It was bullishly visible and ready for a bounce. Price was above LSMA, 50MA, 200MA velocity was positive. The only concern was RSI that was high but this stock has challenged RSI if you check historic price actions.
This stock may keep going high but to me it was a good time to take some profit off the table since i was in from the lower 1$ levels while waiting for the next big move potentially towards the 6$ or more.
I will keep you all posted.
DYOR and stay safe. Please keep smashing the likes if you enjoy these TA.
Today ASX:Z1P aka ZIP has zoomed 41% high but checking on the chart I can say that the stock has been bullish since its bounce back from the 200MA. It was bullishly visible and ready for a bounce. Price was above LSMA, 50MA, 200MA velocity was positive. The only concern was RSI that was high but this stock has challenged RSI if you check historic price actions.
This stock may keep going high but to me it was a good time to take some profit off the table since i was in from the lower 1$ levels while waiting for the next big move potentially towards the 6$ or more.
I will keep you all posted.
DYOR and stay safe. Please keep smashing the likes if you enjoy these TA.
