MSLP - Muscle Pharm Corp has an interesting chart for penny stocks traders, showing buyers are slowly winning out as they try to regain recent highs. In late February, MSLP topped out in the .13-.14 area before strong selling from profit taking pushed the stock down to support levels in the .04-.05 range. Buyers have been slowly pushing the stock back up over the last month. Traders of penny stocks may want to consider this stock as a possible trend continuation trade since the stock has been trending upwards over the last few weeks, although slowly. Also, when selling pressure appears the selling tends to be with strong volume as shown in the volume chart, so caution is advised.
MusclePharm is a healthy lifestyle company based in Denver, Co.which develops and manufactures nutritional supplements which have been approved by the
National Science Foundation. MSLP has a 52 week trading range of .03 -1.18 with average daily volume of 1,928,110. MSLP opened Friday's trading at .08 and closed the day up 3.85% on 1,661,219 shares traded.
4/15/2011
