This stock is 25 cents away from 3 dollars- not a good technical sign
3 dollars would put the stock back into the o column on the point and figure and it would also put it close to going below the major support level of 3 dollars which was the level it broke below on huge volume around the stock offering. Not good risk reward ratio in my opinion. This is at a time when the majority of stocks in the S&P 500 are below their 200 day moving average while the markets have made recent new highs. Eventually I would think if the majority of stocks are trending lower the market indexes will also start to move lower. ZIOP could be close to some downside volatility soon in my opinion.