The StockWizards.net top 10 stocks for the week include: IWEB, EIGH, RPPR, QASP, ENTI, HLNT, SFMI, USOG, ZVTK, and KATX.
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1- (OTCBB) IWEB: cloud computing has been hot lately. Hewlett-Packard (HPQ) and Dell computer (DELL) were in a bidding war to buy cloud computing company 3Par (PAR). The bidding war lasted about two weeks and Hewlett-Packard finally won the right to buy the company.
With all the attention on cloud computing, the leading cloud computing company in the OTCBB penny stock arena is Iceweb Inc (IWEB). The stock broke its 200-day moving average several days ago and has not looked back since. The stock has strong support at .18 with resistance at .24. It will be interesting to see if the stock remains hot over the next several weeks. Definitely one to put on your radar.
2- (OTC) EIGH: EIGH broke out above its 200-day moving average just recently and hasn’t looked back. Looking at a weekly chart of the stock, EIGH bounced off its 50-week moving average and is now starting a new uptrend. All eyes will be on the important .14 resistance level. A weekly close above this level will get some serious momentum going in the stock.
3- (OTC) RPPR: This stock has been very active the last few days. We are looking for a weekly close above .03 cents in the coming weeks if the volume keeps up.
4- (OTC) QASP: QASP looks to be setting up a double bottom on the charts for a nice rally next week. Traders and investors will have their eye on the critical (.002) cents to support level for the week. Traders have had a field day trading the stock. It has been a real nice trading stock the last several weeks with lots of volatility for intraday trading. Will it continue?
5- (OTC) ENTI: Encounter Technologi looks very oversold. Traders and investors are looking for a bounce in the stock in the next few weeks. We could rally back to the psychological (.001) cent area.
6- (OTC) HLNT: Highline Technical Innovations, Inc (HLNT) had its first weekly close above the 200-day moving average. With an outstanding share count of less than 2 billion shares, TSW feels that it could have a shot at the .02-cent level in the near future. The street will be watching for any further developments in the company. Sub-Penny stocks have been scorching hot lately and this is just another example.
7- (OTCBB) SFMI: SFMI has treated traders and investors very well this year. The stock is bouncing off its 50-week moving average and it looks like it’s ready to make another leg higher. A weekly close above .21 cents will spark another round of momentum buying.
8- (OTC) USOG: Sub-Penny stocks have been red hot lately and here is another example of a very nice chart setting up. On a technical basis USOG is ready to break its 50-day moving average. Most traders have experience when a stock breaks above its 50-day moving average. The stock is coming off very oversold conditions. Major support is (.001) cents.
9- (OTCBB) ZVTK: Here is another example of a sub-penny stock getting ready to break out above its 50-day moving average. Traders and investors are very familiar with ZEVOTEK inc. TSW knows there are lots of eyeballs watching this very closely. A breakout above the psychological (.001) area should get the party started.
10- (OTC) KATX: TSW is looking for an oversold bounce back to the .14-.15 area. This presents itself as a very low risk trade because of the fact that the stock is trading right at its 200-day moving average. Traders and investors love when they can measure their risk. KATX is a very good example of this scenario. If the stock breaks below .07 cents, a major support area, very simply your out.
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