The global tech wreck, along with a collapse in buy-now-pay-...

The global tech wreck, along with a collapse in buy-now-pay-later stocks locally, has seen $Zip(Z1P.AU)$ shares fall towards post-pandemic lows with the stock down roughly 80% in the past year. While the company faces headwinds from higher interest rates and potentially weaker profits from increasing bad debts, the technicals point to a looming bounce for the stock. Although in a primary downtrend, the weekly RSI is heavily oversold, and the signal line is suggesting slowing downside momentum. A break of trendline resistance could see buyers drive a reversion in the stock, with the resistance at $2.70 the major level to watch in such an event.