Zion Bancorp

Someone once correctly answered the age old question, "How low can it go?" by rythmically stating $0.00. In the case of Zion looking at the longterm chart $0.97 may apply. What does come to light are the stops marked in dotted blue one can use if bottom fishing calls.

Looking at a 2 year chart the 50% retracement $58.67 and the 38.2% retracement $42.87 acted as major support areas on the way down and will act as resistance on the way up.

The 30 day shows a great setup for a call trade with the stop being slighty beneath the blue dotted price line $24.98.

This price line could actually be used as a pivot point to get short for the fall back to $17.28 with the only support being the fib line $24.04.

Either way very tight stops should be implored.