[isatrader]

$ZI recent IPO developing a primary Stage 1 base with some contraction in volatility. Watching for a breakout above 48 on strong relative volume

I highlighted $ZI a month as it was forming its primary Stage 1 base. Which has now developed further and is at a potential early entry point within the base using a Wyckoff method point of entry, as its sitting on the lower channel line, which could potentially be a Last Point of Support (LPS).

Intraday on the 30 minute chart you can see a Stage 1 base forming, with the supply line broken and it starting to flatten out and contract.

Note: a 20% move would take it just under the Dec high, so potential for a swing trade within the base before a potential move into Stage 2.