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Wednesday, March 08, 2006

Penny Stock Pick - AAC

Auctions Pioneer The penny stock of the day is Ableauctions.com Inc. (AAC), a Coquitlam, Canada based online auction broadcasting services provider for United States. Basically the company provides a website for company to host auction as well as invite people or other companies to participate in the auction. The most recent one was the Euro Auctions on February 2 which sold about $1.5 million to the Internet and beginning today, March 8, the site will also host a three day Spring auction for JM Wood Auction Company. As the stock is up 9% today on the auction hype, it is probably a good time to analyze the stock and see if the rally can sustain.

Technical
Looking at the
technical chart, the stock is now trading above 50 day moving average and is heading to the 200 day moving average. The 200 day moving average is a key resistance level and if the stock can break thru it and brings the 50 day moving average up we probably may see major rally coming. Technical indicator MACD seems to be breaking above 0 showing the stock is heading towards a bull market. One other positive indicator is the KD line where K line is rising on top of D line generally meaning buy signal. However please beware that K line is now heading south and if it drops below D line then the stock could be heading back to test the 50 day moving average.

Insider
There is no significant activity from the insider transactions recenty.

Financial
Revenue wise the company seems to be doing well as it generates four times as many revenues in 2004 comparing with 2003. Based on the first three quarters, revenue for 2005 probably will be similar to 2004. The company has been generating net income for 2003 and 2004 and may also have net income for 2005 based on the result of first three quarters.


Penny Stock Score (1~5) 5 is highest
1. Market Potential(online auction hosting): 4
2. News Buzz: 3
3. Technical: 4
4. Financial: 4
Recommendation: Buy

5 Comments:

Anonymous PENNY STOCK INVESTMENTS said...

Great stock in aac.

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