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Potential Buy Entry Alert to Watch ZNO
Time Frame : Daily/Weekly
Sector : Materials/Consumer Defensive
Key Stats : $272.73 Million Market Cap, VWAP 1.79, ASX Ranking 414, 4 Week Av Turnover $10,422,365, Current Turnover Intraday $6,434,574 (3:16pm AEDT).
Company Overview : Zoono Group Limited (ZNO, formerly Goldsearch Limited) is a global biotech company that deals in the development, manufacture and global distribution of a unique range of long-lasting and environmentally friendly antimicrobial solutions. Zoono’s mission is to improve health and well-being through innovative, safe, non-toxic and durable germ protection.
Broker Consensus : Not covered by a major broker
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ZNO – Zoono Group Limited
ZNO has weathered the storm well and pushed up off the 1.20 zone with gusto. The rejection from buyers down to 1.00 and then finish above 1.20, is a good sign. It is early stages yet and we still need to see some positive signs from buyers that they are will to step in the market and buy in these uncertain times. A rally in ZNO would be dependent on a rally in the underlying ASX200 so we are now watching for a pullback and for buyers to soak up the selling pressure. It is important to see the higher low with increased volume or else there is no way to quantify risk. We will watch the action play out and have this on the radar for now as it is important to make sure that we feel the weight of pressure is on the buy side.
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Stock Code : ZNO – Zoono Group Limited
Company Website : www.zoono.com
Current Price : 1.83
Status : On watch for potential higher low and push up through 1.90
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