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7 Jul

Hot Penny Stock Watch List For Thursday July 7, 2011

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SNAK had a nice pop in volume yesterday but there wasn’t a significant impact on the price per share. Could mean that the buyers cleared out some big sellers and we’ll see continuation today. With earnings on 7/27 there’s also a chance we get some runup to the $4.50 range between now and then.

JMBA continues to get love from TheStreet.com and this continued exposure could be the perfect compliment to some good news. Keep it on watch for $.25 per share above the 50 and 200 Moving Averages. Notice the 20 Moving Average curling up nicely here, leads me to believe some good news might be coming.

GLUU has formed a powerful ascending triangle and this sector is on fire right now. It wouldn’t surprise me to see GLUU trading in the $7.00 range soon so watch for a catalyst or position yourself early. A break above $5.75 is the key and with earnings on 7/28 the next big move on this stock could be right around the corner.

MOBI isn’t even overbought yet, as hard as that is to believe. With earnings on 7/29 and shorts getting crushed it’s possible we could still see upwards of $5 per share. No trade for me today but it’s definitely back on watch still down considerably from the $20 range.

CBOU is toppy to say the least. It might run a bit further so I’ll look to short into the next spike. If it starts to break down today I’ll consider scaling into the trade.

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