KBLB - Pullback And Bounce

KBLB - Kriag Barcroft Laboratories sustained a nice bounce after a week long decline from the most recent high of .14 as traders starting buying the stock in the .09 area. We told readers about KBLB on 4/13, see our post here. Interestingly enough, .09 is where the stock closed on April 12 after the gap up opening that morning as seen on the chart below.

Savvy penny stock traders that utilize charts for trade entry saw the relevance of .09 as a strong area of resistance in the months prior to March. They anticipated a bounce at .09 as the new established line of support as a result of the breakout which occured on 4/13. The stock finished strong today opening at .094 meeting some selling pressure early on which printed the low of .09 before gaining upward momentum closing on the day at .105, up 10.53%. The coming days will tell if the stock can maintain the current upward trend with all indications pointing to a good possibility of this happening.

4/22/2011

MSLP - Muscle Pharm Corp

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

ELTP Sets 52 Week High On Huge Volume

ELTP - Elite Pharma, Inc. is trading higher today on heavy volume with over 51 million shares traded. ELTP opened today's session at .12 and reached a intraday high of .22 before pulling back. As of this post, 15 minutes before the close, ELTP is trading at .20 with heavy volume coming in as traders take a positions to capitalize on a possible gap play tomorrow. Average daily volume for ELTP is 4,077,940.

Elite Pharma, Inc announced on April 7th the first order of phentermine HC1 37.5 mg tablets,  the generic version of Adipex-P(R) 37.5 mg tablets was made under a license, supply and manufacturing agreement with Precesion Dose. The tablets are an appetite suppressant used for obese patients in conjunction with exercise, diet and modifications along behavioral lines. ELTP trades on the OTCBB penny stocks exchange.

Penny stock traders may want to keep this stock on their radar as it appears to be one of the hot penny stocks in play! Join our penny stock email alerts and stay informed about stocks on the move!

4/12/2011