GNTA - Genta Inc. appears to be in play among penny stock traders today with above average volume and a 38% upward move going into market close. The stock opened at .06 and has so far peaked at .089 as the intraday high. GNTA has experienced a steady decline over the past year and may have finally found a bottom and is now bouncing as traders are beginning to show some interest in the stock.
Volume has picked up within the last month with average daily volume over the last three months being 2,296,160. Volume is way above the three month average with over 11.5 million shares traded. Penny stock traders should place GNTA on their penny stocks list of stocks to watch since it may offer an opportunity for traders to take a position if the stock pulls back to support levels since a tentative support base appears to have been reached.
No real news as been released from the company to give any indication of news related momentum driving this issue today. All indications are the move upwards today is purely a speculative bottom play on the part of penny stock traders.
UPDATE: GNTA closed at .0989 up 64% on the day with 15,417,171 shares traded.
4/14/2011