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Hi Everyone & Welcome New Subscribers,
While we thought we might see some correction in NNRX this week, we certainly didn’t think it would be as fast and furious as the ‘correction’ (you could hardly call it that) we saw today. In any event, we stressed to our e-mail subscribers the importance of securing profits following the increased attention over the weekend.
PHOT – Potential Continued Breakout – (GrowLife, Inc.) – closed up 17.76%, at .063c a share, on over 22.4 million shares traded today. GrowLife, Inc. is a company with core holdings in innovative technology-based products and services for the indoor gardening industry and specialty markets. Shares closed above resistance at .06c today, trading with a high of .0639, and are in a good position to move even higher tomorrow. There appears to be little resistance to .10c, but at the least more room to go from today’s close. This is one we’ve continued watching over the past few weeks and those who have bought the stock when it’s down and sold it when it’s up have done quite well. Keep it on close watch.
ELTP – Volume/Momentum – (Elite Pharmaceuticals Inc.) – closed up 7.74%, at .1239c a share, on over 2.9 million shares traded today. Elite Pharmaceuticals, Inc. specializes in the development of oral controlled release products, such as delayed, sustained, targeted and pulsatile release tablets, pellets, capsules, granules and powders. The Company’s primary focus is in the therapeutic areas of pain management, allergy, cardiovascular and infection. ELTP is another stock we have covered quite a few times over the past few weeks as the stock has developed an upward trend. After trading as high as .17c less than two weeks ago, shares have fallen but seem to now have established support higher in the .11c range. If the stock can break past today’s high of .125c tomorrow, it could catch some nice momentum and make for a profitable swing trade. Look for a move back up here. Keep it on close watch.
GSAT – Potential Continued Breakout – (Globalstar Inc.) – closed up 4.81%, at $1.09 a share, on over 5.6 million shares traded today. Globalstar is a leading provider of mobile satellite voice and data services. Globalstar offers these services to commercial and recreational users in more than 120 countries around the world. The Company’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Volume came back into GSAT today and the price responded well, trading with a high of $1.12, but still closed below the psychological resistance level of $1.10. If the stock sees another increase in volume and breaks past today’s high, we would expect it to gain even more momentum and rally higher. Longs have been fighting hard to keep this one up the past few weeks, which is quite clear when you pull up a chart on the stock. Keep it on close watch.
The Penny Stock Experts Team at Todayspickis.com
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