The last two days show strong selling pressure indicated by the lower shadows present on the last two candlesticks. However, buying pressure for the past two days have negated the selling pressure and pushed GHLV higher as buyers try to regain the highs of late March. Penny stock bounce players may want to keep an eye on GHLV since it may be well on its way to testing recent highs.
Global Health Ventures is a pharma company specializing in drug formulation and delivery. On April 12, the company announced they completed the formulation of their lead therapeutic drug, X-Excite for upcoming clinical trials in the United States. Recent Eurpoean trials for the drug have been favorable, the company announced.
GHLV has a 52 week high of .85 and a 52 week low of .02 with average daily trading volume of 1,823,640. Shares traded in Friday's session were 5,073,943. The stock closed at .0556, up ten percent on the day.
4/15/2011