In Hindsight I think the whole graphite sector is being driven by Apple and their sales..If you look at the recent trading of Apple and the chart, the stock was recently in a down trend. This morning after their strong earnings report, Their is no doubt that buyers of Apple are in a positive mode, which no doubt gives a lift to manufacturers of components which are used to make the phones.This in turn gives a lift to the sectors that make the "raw" materials that are needed to make the components (such as graphite).
As others have mentioned, ZEN has held up pretty well from a trading stand point, and "technically" there is really nothing wrong right now. The stock is in a holding pattern and one way or another this companies share price will be driven by the % grade of the graphite they have discovered. Until the results of the core samples are released for investors to digest, I expect ZEN to be stuck in a tight trading range, with the only catalyst short term being, the large cap stocks that use graphite for the manufacturing of lithium batteries. In other words if Apple moves higher, it will drag the graphite sector growth story with it. Personally I'm holding until I see the results of those drill holes. You can be assured of heavy trading volumes and a move in the stock price ( there will be a definitive change in the trading pattern) up, or down depending on the grade of the holes released by the company over the next few weeks.
May future endeavors bring riches beyond your wildest dreams
Mrcashflow