Looking for a long position on Z1P. This is my defensive zone.
Recent reports from UBS may have contributed to the 20% crash in mid October allowing for a perfect buying opportunity. This position should probably be held for less than 3 months as the RBA is set to reform laws around the BNPL market.
Did well with my short play on Z1P, gap up nicely then fail to pass $5.37. Got in at $5.34 with a stop at $5.39 with 1,500 shares. Reduce my position at 1 R by 30% then got out the rest at $5.26, quick scalp play to the downside. I like to calculate the stocks Standard Deviation of 1 year data, hence why $5.37 is a key level.
Z1P is well over extended from its previous close, touch new time high of $5.19. If it gaps up past 5.37 or gaps down 4.96, these are my shorting ranges, if its moves higher then it gives me more reason to short it. looking for a quick scalp :)
With Zippay's current trajectory things are looking good for the next 3 months. I could only speculate a likely range of -10% - +25% within this period. The company recently launched in New Zealand which opens up the company to a new range of consumers/users. However, I don't believe that the company will grow any further than Oceania in this 3 month period, maybe...
On the 20th of May we saw Z1P getting absolutely munted. Could this happen again? Averages present the fact that we could see a shorting opportunity but within the next month we could see another significant increase. Just be aware guys that my usrname is losing money for a reason. Don't go by my word at all im literally a noob at trading with zero rep. feedback...
Z1P looks like it is having a pause here at its support, i still feel we will continue down to the trend line at least before continuing up again. As you all know im very bullish on Z1P long term, this is not a bad thing to see this parabolic come back to reality a bit.
In my humble opinion we have entered a parabolic section on Z1P. looking at exiting at $1.535 for a few reason with a pull back to the 61.8% level! Bump run on the longer term and on the intraday right now which is giving us a good exit signal, including MASSIVE BEAR DIV. on the RSI All of these signals make it to tantalizing to pass up! looking at an take...
I would be looking to enter around 1.02 (laddering in from 1.03) Stop loss @ 0.97 (or even @ 0.98 for a tighter stop) Profit Targets: 1.13, 1.16, 1.19, 1.22, 1.235 If price breaks below 0.95 I would not want to be in z1p for the short term. **DO YOUR OWN RESEARCH**
Different Entry Opportunities Depending on the breakdown