Proposed to list Taiwan Depository Receipts, to “further increase liquidity, diversify sh/h base and promote the corporate image in Taiwan”. We find this slightly odd, given that Z-Obee does not currently have any business dealings in Taiwan, and has only just completed its dual listing in HK. Nevertheless, the corporate action could spur short term trading action, and provide a brief respite for the share price, which has fallen ~45% since peaking in late April.
Stock appears to be building a base near last close of $0.335. RSI and stochastics currently in oversold territory, and showing signs off ticking back up. Key support at $0.30, vs resistance of $0.40.
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