ZIP CO LIMITED (ASX:Z1P) has bounced back significantly well after the market dump in FEB/MAR, as have all lending services due to the job losses/ government surpluses around the world.
When the market reopens on monday I can see a couple of things happening.
1: WE crack this 'strong equilibrium' as price action continues up the trendline and get squeezed into the corner, 20% TARGET
- Respecting Uptrend
- Buyer Volume Present
-Covid19 crisis still taking a toll on the economy (People still borrowing)
If we do break the equilibrium my next target would be the 4.14 Equilibrium. Careful though as 'Bearish Divergence' could follow.
2: The Resistance holds and we break trend, returning to 'Previous Support' 10% TARGET
-Uptrend Trendline Breaks
-Double Top Confirms
-MACD crosses
-.236 Fib Breaks
3: Previous Support Fails and we fall to 2.84 Support. 15% TARGET
-Breaks .236 & .382 Fibs
-Healthy Retrace after 230% move
-MACD will have crossed
-Center BB will have failed
NOTE: There is an OPEN GAP sitting inside the 'Golden Pocket'. Do not be surprised if we see this fill.
Offering simple interest free and flexible repayment options, Strong Retail Affiliations and having an App in the Top 10 of Google Play and Apple, it's easy to see why Z1P is doing so well. They are up $45Million in revenue and have nearly cracked 2 Million Users.
These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!!
When the market reopens on monday I can see a couple of things happening.
1: WE crack this 'strong equilibrium' as price action continues up the trendline and get squeezed into the corner, 20% TARGET
- Respecting Uptrend
- Buyer Volume Present
-Covid19 crisis still taking a toll on the economy (People still borrowing)
If we do break the equilibrium my next target would be the 4.14 Equilibrium. Careful though as 'Bearish Divergence' could follow.
2: The Resistance holds and we break trend, returning to 'Previous Support' 10% TARGET
-Uptrend Trendline Breaks
-Double Top Confirms
-MACD crosses
-.236 Fib Breaks
3: Previous Support Fails and we fall to 2.84 Support. 15% TARGET
-Breaks .236 & .382 Fibs
-Healthy Retrace after 230% move
-MACD will have crossed
-Center BB will have failed
NOTE: There is an OPEN GAP sitting inside the 'Golden Pocket'. Do not be surprised if we see this fill.
Offering simple interest free and flexible repayment options, Strong Retail Affiliations and having an App in the Top 10 of Google Play and Apple, it's easy to see why Z1P is doing so well. They are up $45Million in revenue and have nearly cracked 2 Million Users.
These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!!
Comment:
These 'Lending Based' Companies will continue to rise.