It's amazing what a bit of news and new buyers can do to a stock price. ZNO is a very interesting comparison after some positive news flow because the chart pattern (before the latest rally) is very similar to the chart pattern for A4N, with only the time scale being different. With A4N's very tight share register, A4N could easily follow the same sharp re-rate after finishing its consolidation with a positive DFS. ZNO had a big re-rate in May which was followed by a lengthy, saucer shaped consolidation (top chart below), a bit of further consolidation from the top of the saucer formed a classic "cup and handle" pattern and then a very strong move higher followed. ZNO has doubled in less than a month and the move after the the saucer has been at least as large as the move before. I've been looking for a similar move from A4N following the DFS. Probably less than a month to go for the DFS, maybe 2 months to see 30c? In fact, A4N more than tripled before the saucer and the saucer has stretched over a longer period meaning the move following any breakout could be much better than a doubling in the sp. The fundamentals support a much better move as well - as long as the DFS is within the +/-30% allowance of the PFS numbers.The timing for the DFS couldn't be much better with Dec, Jan and Feb all traditionally good months for markets.
A4N Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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