Not for a bloody long time now Kincella. It really needed to bounce strongly off that 12.5c level to maintain the previous pattern and trend strength. The risk is now that you hang on for another month or so, they make the announcement, and when the share price rises everybody dumps at the next big resistance levels (19.5c and 21c), because everybody who is hanging on feels just like you and is desperate to realise some return before the next big retrace.
You may as well sell into the current minor rally and put the funds to better use elsewhere for the moment and keep the stock on your watch list. If it breaks 14.5c on volume you will know it is time to get back in. You will only have missed out on 1.5c of gain and maybe less than this if the rally isn't heavy enough to get through the 15.5c level on the first go.
In short, the stock has badly lost momentum.
Sorry I couldn't be more positive.
ZNO Price at posting:
0.0¢ Sentiment: Hold Disclosure: Not Held
