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.

註釋

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.

註釋

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.

AsimMirzaTrader

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AsimMirzaTrader

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