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Friday, December 23, 2005

Penny Stock Watch - AXJ

Today we spotted a penny stock which sky-rocketted 150% today with promising news. AXM Pharma Inc(AXJ), a Las Vegas, NV based drug maker focusing on market in Asian countries such as China, Hong Kong, singapore, Thailand and Taiwan, gets approval of sales of its diabetes drug in China. The approval opens up a big market as statistics from The Asia Times records there are 90 million people with diabetes in Asia, including 23 million in China.

The technical side of the stock doesn't look pretty as indicators such as MACD, 50 day moving average and 200 day moving average all indicates continuous trend of weakness. The only technical indicator which shows signs of bullishness is Stochastics which suggest a buy on the stock as the %K and %D has rose from 20.

The fundamental side of the stock is terrible too as revenue, income and assets are still shrinking which is why the stock price keeps falling. Nevertheless people buy the stock for its future and big news such as this one should give investors plenty of hope.

Penny Stock Score (1~5) 5 means highest
1. News Buzz: 5
2. Technical: 1
3. Fundamental: 1

4 Comments:

Anonymous PENNY STOCK INVESTMENTS said...

Great stock to watch.

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