Zip Co (Z1P:ASX) – Trade Idea

Last update - 25 August 2020 By Oliver Gordon

Zip Co Limited provides point-of-sale credit and digital payment services. The Company offers retail finance solutions to small, medium, and enterprise businesses. Zip Co serves retail, education, health, and travel industries in Australia.

Recommendation Update: 31 August 10:00am

Z1P – Probable a few days of sideways consolidation at best. Price has traded as low as $8.65 this morning, which is the mid point of our proposed stop loss range of $8.70 to $8.60.

Recommendation Update: 28 August 10:00am

Z1P – Quite a weak close suggests sellers are moving in. May struggle to go much higher in the near term. We would recommend closing ay remaining long positions at market, or alternatively lofting the stop loss up rather tight to the $8.70 to $8.60 region.

Recommendation Update: 27 August 11:00am

ZIP – Initial target met, trailing stops should be between $8 and $8.25 on any remaining position.

Recommendation Update: 26 August 10:00am

Advise taking some profits as price approaches the $8.83 to $9 region. Stop loss level on remaining positions should be raised to $7.45 to $7.30 area.

Recommendation Update: 25 August 10:00am

Z1P – Clean break of the recent consolidation range, with a close above $6.77 on high volumes. Initial targets should be placed in the region of the measured move at $8.83, with stop loss levels in the region of $7.50.

Original recommendation: 21 August 10:30am

Z1P – volume starting to increase again after a low volume sideways consolidation. Look for a break of $6.75 to $6.77.

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