Following up on the weekend post (dec. 23) where I covered zipcar.com, it provided a good move along with the rally experienced yesterday in the US Market. It gained 4.58% for the day.
The move tagged the 20EMA -which offered resistance-$19.25- Ultimately -provided the bullish action persists- the target would be the 50EMA, which has previously worked as resistanceover the last 2 months.
It is importante to note, that yesterday´s move left a 0.50 cent gap, which depending on the price has to be eyed if no continuation is developed.
On the “fundamental” side: finviz reports it has a high institutional ownership (almost 40%), which I have to say it was suprising to me -might it become a new market leader?
Shortsqueeze.com reports it has 15.8 “days to cover”, while finviz 13.2. Regardless of the difference, this implies that it will take aprox. 2 weeks or nearly 3 trading weeks to cover the entire float, which will surely add spark to the bull case.