With the stock trading above all of its important moving averages 20/50/200 DMA's, ZIOP remains in a favorable technical posture as the base building process continues to develop.
In addition, if one were to zoom-out to both the Weekly and Monthly time-frames, we can also see that ZIOP may just be in the process of building-out a potential inverted pattern and should such development materialize and complete, the longer-term measured move implies an initial $8 objective.
Moving forward, if and when at any time in the days/weeks ahead ZIOP is capable of clearing the $4.85 figure and perhaps more importantly the $5 level, such occurrence would likely suggest that higher levels are in the offing.
Thus, both investors/traders may want to continue to monitor the action closely moving forward.
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