ZAPP - Bounce or Bust at 0.14?
Watching $ZAPP today after that brutal -46% drop. It briefly touched 0.14 and bounced a bit, currently sitting at 0.1548. That 0.14 level looks like a potential short-term support given the intraday low, but it's really thin ice. If that breaks convincingly, especially on continued volume, I'd expect it to quickly head lower, potentially testing 0.10 or even single digits given the lack of historical support below current levels. Conversely, holding 0.14 and then breaking above yesterday's close around 0.22 could signal a capitulation bounce, but I'd need to see some real buying conviction. For now, it's a knife catch scenario, not for the faint of heart.
That's a good point about the 0.14 level. I'm wondering if anyone else sees any other signs of potential support or resistance on the daily chart, or if it's too early to tell after such a big drop.