ZNO 4.35% 2.4¢ zoono group limited

weekly chart looking stronger, page-3

  1. 2,541 Posts.
    Its very, very illiquid, so chart analysis can be misleading on such a stock.

    Its weekly and daily chart both look good. I would hold at 14c, not buy, as I think it will retest 12c, if not 11.5c. It remains a hold whilst ever it can stay above 11c. If it retraces and stays at or above 12c then the buy signal is much stronger.

    If you are a holder, definitely hold at the moment, despite the rise on light volume. Its a reconstruction or start up, so it going to take a while to get known before volume increases. If you are a fan of the company story and want ot buy or add, I would suggest you put a bid in the queue at 12c and patiently wait for the drift back. Barring an announcement in the next couple of days it will drift back imo.

    The best signal I can see is the rising lows on the slow stochastic. I could look for other things as well, but they would be repitition of the same signal. Put the slow stoch on on your chart and you will see it is towards the top of its range at the moment, indicating this is the top area of the current rally. When it drifts back, we are looking for the slow stoch to turn upwards before it hits the previous low of 16.66 on the slow line.

    Hope this helps.
 
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