Zip Co Limited

Zip Co Limited (ASX: ZIP) operates in the digital retail finance and payments business, offering Buy Now Pay Later instalment or credit line solutions to customers in Australia, New Zealand, and Singapore.

Technical Analysis:

On the daily chart, ZIP's prices are facing the resistance from a falling trendline on the upside and currently consolidating around the 52-week low, indicating the possibility of a sideways to negative movement. Moreover, RSI (14-period) is trading below the midpoint and showing a reading of 34.47. The prices are trading below the trend-following indicators 21-period and 50-period SMAs, which may act as the dynamic resistance levels for the stock. An important support level for the stock is placed at AUD 0.435, while the key resistance level is placed at AUD 0.535.

Daily Technical Chart – ZIP

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest, taking into consideration the risk-reward scenario.

Considering the company’s current price levels facing trendline resistance, trading near significant support, and momentum oscillator analysis, a ‘Watch’ recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.480 per share, as on 21 Mar 2023. 

Kleos Space SA

Kleos Space SA (ASX: KSS) is a Luxembourg-based firm specialising in geo-located intelligence, which provides geo-located intelligence services to private and governmental organisations for collecting capabilities from space utilising in-space manufacturing technology.

Technical Analysis:

On the daily chart, KSS' prices are facing resistance from the falling trendline on the upside; however, a bullish divergence has been forming on the RSI (14-period), indicating that it may enter a trading range in the near future. Moreover, the RSI (14-period) is trading below the midpoint and showing a reading of 42.89. The prices are trading below the trend-following indicators 21-period and 50-period SMAs, which may act as the resistance levels for the stock. An important support level for the stock is placed at AUD 0.145, while the key resistance level is placed at AUD 0.180.

Daily Technical Chart – KSS

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest, taking into consideration the risk-reward scenario.

Considering the company’s current price levels facing trendline resistance, and momentum oscillator analysis, a ‘Watch’ recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.160 per share, as on 21 Mar 2023, up by 6.67%.

EV Resources Ltd

EV Resources Ltd (ASX: EVR) focuses on diversifying its portfolio of projects in the electric car and green technology metals industries. It maintains stakes in various precious metals projects situated in South America.

Technical Analysis:

On the daily chart, although having been in a short-term rally, EVR's prices are facing the resistance from the falling trendline on the upside. Moreover, RSI (14-period) is trading below the midpoint and showing a reading of 42.07. The prices are trading below the trend-following indicator 21-period SMA, which may act as a resistance level for the stock. An important support level for the stock is placed at AUD 0.012, while the key resistance level is placed at AUD 0.016.

Daily Technical Chart – EVR

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest, taking into consideration the risk-reward scenario.

Considering the company’s current price levels facing trendline resistance and momentum oscillator analysis, a ‘Watch’ recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.014 per share, as on 21 Mar 2023, up by 7.69%.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

The reference data in this report has been partly sourced from REFINITIV

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: Investment decision should be made depending on an individual’s appetite for upside potential, risks, and any previous holdings. This recommendation is purely based on technical analysis, and fundamental analysis has not been considered in this report.

Note 3: Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period, prices are currently in a bullish trend (Vice – Versa).

The Blue colour line reflects the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 50-period, prices are currently in a bullish trend (Vice – Versa).

The Orange/ Yellow colour line represents the Trendline.

The Purple colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.

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