Stockhaven Blog  

NUVM ($0.028) ~ Rumor alert: We’ve been hearing rumors of an upcoming promotion on NUVM for the last week and the accumulation on the chart leads us to believe those rumors may prove true. Furthermore, we spoke with the company on Friday and were able to confirm that there will be news in the near future, possibly as early as this week. Support lies between .02-.025 while resistance is in the .035-.04 range.

RENN ($13.00) ~ Sympathy alert: With Linkedin’s (LNKD) jaw dropping IPO debut that saw shares rise 100% in one day, RENN may get some love as the stock is near the low end of its trading range ($12.00 – $24.00). LNKD’s IPO proved that internet sites that operate in the social media sector are in favor amongst investors. With RENN being dubbed the “facebook of China,” the stock offers a good risk/reward trade off. The 52 week low is only 7% away while a revisit of the 52 week high would represent nearly 100% gains from current levels.

WTCT ($0.0021) ~ Volume alert: WTCT traded higher by 100% Friday on huge volume of over 400 million shares. Resistance is at $0.0025 while support is the 200 day simple moving average at $0.0017. Look for another green day on high volume of a few hundred million shares to confirm that Friday wasn’t just a one day wonder for WTCT

NEI ($1.22) ~ Oversold alert: Bad news sent NEI stock plummeting nearly 30% on the week. With an RSI reading of 19, NEI is extremely oversold from a technical perspective. Fundamentally, the stock now trades at a forward p/e ratio of 7. With a 52 week low of $1.15 the stock offers a good risk/reward trade off–a stop limit at the $1.15 low would yield only a 5% loss while the stock offers 15% profit potential on a move towards $1.40.

WAMUQ ($0.079) ~ Continuation alert: WAMUQ made a big move Friday on the heels of encouraging news for shareholders. The stock suffered a major gap down in November from $0.16 to $.08 so it closed just underneath “gap resistance.” A break of $0.08 on strong volume should lead to a test of psychological resistance at $0.10. Look for support to materialize in the $0.06-$0.07 range. Just as encouraging news sent this stock soaring, negative developments could send it right back down just as quickly so be sure to trade this one smart and be aware of any news that comes out on the stock.

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