Bnplong
BNP Paribas at Trend Line SupportBNP Paribas - Short Term - We look to Buy at 59.34 (stop at 57.18)
We look to buy dips. Previous support located at 26.20. Reverse trend line support comes in at 60.00. The daily chart technicals suggests further upside before the downtrend returns. Further upside is expected although we prefer to set longs at our bespoke support levels at 60.00, resulting in improved risk/reward.
Our profit targets will be 65.67 and 67.40
Resistance: 65.00 / 68.00 / 70.00
Support: 60.00 / 55.00 / 50.00
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Z1P - A closer look at the Falling Wedge !What will happen in the week ahead for Z1P ? My guess is as good as yours, although I am leaning slightly to Z1P validating a counter trendline break as the money rotation slows.
The 0.618 retracement has been respected as resistance a number of times inside the falling wedge, as a result the $8.50 - $8.70 is worth watching closely. Additionally, Z1P at the longer time frame retracement (0.618) level is starting to get confluence in an oversold stoch, RSI, lower time frame MACD divergence as well which should act as strong support.
ZIP Co Long OpportunityBased on long term trend and continued increase in Profits a good potential long opportunity is building. Strong support area's converging along a potential 61.8% Fib retracement from COVID low areas.
Best buy in price could be around $4.80-$4.90 with a stop loss around the $4.50 mark and first Take Profit (Trading not Long Term) around the $10 area.
A good divergence on Price and RSI+MACD is starting to play out too indicating a potential reversal. Always do your own research!
