Thesis:
ZETA continues to look constructive on the weekly chart. In my view, the stock is currently developing a Subwave 4 pullback within a larger Wave 3 structure. As long as price continues to hold in the $27-$29 area, I expect the next move to be a push toward the all-time-high resistance around $38. If that level is reclaimed, the longer-term structure continues to point much higher.
Context
- Weekly timeframe
- This is an update to my earlier ZETA view
- ZETA broke out of its bullish wedge in June, retested the breakout area from above and held
- That successful retest was followed by a strong move higher, helped by another strong earnings report
- Price is now consolidating after that impulsive advance
- My average entry and the one of my copiers is approximately $18.53
- Even after the recent move, I still view the stock as being in the middle of a larger bullish cycle rather than at the end of it
What I see
- The larger structure continues to look like Wave 3 is still in progress
- The current pullback fits well as a Subwave 4 correction within that larger move
- Price has already completed the breakout from the wedge and confirmed it with a retest
- That was an important technical development because it changed the character of the chart materially
- The current consolidation is happening above the breakout area, which is constructive
- The $27-$29 area is where I want to see support continue to hold
- The next major resistance is the all-time-high area around $38
- If that level breaks, the chart opens the door to the next higher-degree targets
What matters now
- $27-$29 is the key support area I am watching in the near term
- Holding that area keeps the current bullish structure intact
- The next important upside test is the all-time-high resistance around $38
- A clean break above $38 would strengthen the case that the next leg of Wave 3 is underway
- Until then, I am treating the current move as consolidation inside a constructive trend rather than as a reversal
Buy / Accumulation zone
- The current accumulation area remains around the rising support structure shown on the chart
- Near term, I want to see price continue holding approximately $27-$29
- My average entry is approximately $18.53
- I am not interested in chasing emotional breakouts after a large move
- I prefer using technically constructive consolidations inside strong trends
- ZETA continues to fit that framework for me
Targets
- Near-term support: approximately $27-$29
- Next key resistance: approximately $38
- Higher-degree Wave 3 target: approximately $70
- If that target is reached, I would expect to trim part of the position
- A future pullback into approximately the $45-$50 area would then become interesting for potential recycling
- Ultimate long-term target: approximately $105
Portfolio note
ZETA is one of the clearest examples of why I like combining long-term technical structure with fundamental conviction.
The breakout in June, the successful retest, and the strong post-earnings reaction all confirmed that the market was beginning to recognize the setup again.
Since then, the chart has behaved in a constructive way.
My approach here is straightforward. I want to see the current consolidation hold above the $27-$29 area, then I want to see whether ZETA can make its way back to the $38 all-time-high resistance.
If that level breaks, I believe the larger Wave 3 structure can continue developing toward the $70 area.
That remains my main target for this phase of the cycle, while $105 stays the longer-term objective if the broader structure continues to play out.
ZETA continues to look constructive on the weekly chart. In my view, the stock is currently developing a Subwave 4 pullback within a larger Wave 3 structure. As long as price continues to hold in the $27-$29 area, I expect the next move to be a push toward the all-time-high resistance around $38. If that level is reclaimed, the longer-term structure continues to point much higher.
Context
- Weekly timeframe
- This is an update to my earlier ZETA view
- ZETA broke out of its bullish wedge in June, retested the breakout area from above and held
- That successful retest was followed by a strong move higher, helped by another strong earnings report
- Price is now consolidating after that impulsive advance
- My average entry and the one of my copiers is approximately $18.53
- Even after the recent move, I still view the stock as being in the middle of a larger bullish cycle rather than at the end of it
What I see
- The larger structure continues to look like Wave 3 is still in progress
- The current pullback fits well as a Subwave 4 correction within that larger move
- Price has already completed the breakout from the wedge and confirmed it with a retest
- That was an important technical development because it changed the character of the chart materially
- The current consolidation is happening above the breakout area, which is constructive
- The $27-$29 area is where I want to see support continue to hold
- The next major resistance is the all-time-high area around $38
- If that level breaks, the chart opens the door to the next higher-degree targets
What matters now
- $27-$29 is the key support area I am watching in the near term
- Holding that area keeps the current bullish structure intact
- The next important upside test is the all-time-high resistance around $38
- A clean break above $38 would strengthen the case that the next leg of Wave 3 is underway
- Until then, I am treating the current move as consolidation inside a constructive trend rather than as a reversal
Buy / Accumulation zone
- The current accumulation area remains around the rising support structure shown on the chart
- Near term, I want to see price continue holding approximately $27-$29
- My average entry is approximately $18.53
- I am not interested in chasing emotional breakouts after a large move
- I prefer using technically constructive consolidations inside strong trends
- ZETA continues to fit that framework for me
Targets
- Near-term support: approximately $27-$29
- Next key resistance: approximately $38
- Higher-degree Wave 3 target: approximately $70
- If that target is reached, I would expect to trim part of the position
- A future pullback into approximately the $45-$50 area would then become interesting for potential recycling
- Ultimate long-term target: approximately $105
Portfolio note
ZETA is one of the clearest examples of why I like combining long-term technical structure with fundamental conviction.
The breakout in June, the successful retest, and the strong post-earnings reaction all confirmed that the market was beginning to recognize the setup again.
Since then, the chart has behaved in a constructive way.
My approach here is straightforward. I want to see the current consolidation hold above the $27-$29 area, then I want to see whether ZETA can make its way back to the $38 all-time-high resistance.
If that level breaks, I believe the larger Wave 3 structure can continue developing toward the $70 area.
That remains my main target for this phase of the cycle, while $105 stays the longer-term objective if the broader structure continues to play out.
Long term investor. Open portfolio and full thesis on eToro: etoro.com/people/maratteo
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Long term investor. Open portfolio and full thesis on eToro: etoro.com/people/maratteo
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.