Having said the above and having looked at the charts CVT is now...

Having said the above and having looked at the charts CVT is now well and truly over cooked and sitting at its lowest level by any charting measurement - it is due for a bounce now.
CVT has been in a bad bearish trend since April 28 when it was trading at .32c and just before the below announcements:

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
1	29/04/2016, 12:53pm AEST	CEO Business Update	39
2	CVT	Covata Limited	29/04/2016, 12:47pm AEST	Appendix 4C	6
3	CVT	Covata Limited	29/04/2016, 11:07am AEST	Heads of Agreement with Major UK Government Department

and 4 weeks before the share placement of $13.2m @.23c.

The share price has never recovered, with those in the know, send it on its southerly trend at around the time a decision would have had to have been made to raise funds at a 30% discount to its price at the time. 4 weeks out from announcement to market.
The good news of the Heads of Agreement with the UK Government was totally destroyed as far as the share price is concerned because "those in the know" were essentially selling into the good news pre share placement.

With no real revenue news since, there has been little reason for CVT to reverse course.

When even a hint of news does come I expect Covata to bounce very hard.

Time to buy in my book.