Penny Stock On The Move - IIP, TGC

• Internap Network Services Corp. (IIP): despite a down day among all the major US indices, shares fo Atlanta, Georgia based business network solution provider advanced 6.82% or 9 cents to $1.41 per share on no news announcement. The technical chart shows the buyers are back after seeing ROC dropped to oversold level while MACD and signal line are still above 0 showing the stock was still in bull market. Another possible positive signal is KD where K line is about to cross on top over D line. Moreover the long term trend remains bullish as the stock is on top of 50 day and 200 day moving average with both moving averages going up. The coverage of the stock began on March 17 at 86 cents per share and has since gained 63.95%. [Strong Buy]
• Tengasco Inc. (TGC): after four straight sessions of sell-off, shares of Knoxville, TN based oil and natural gas exploration company bounced back 6.96% or 11 cents to $1.69 per share as crude oil price is still at high of over $70 per barrel. on high oil price. The technical chart shows the investors saw buying opportunity after the stock dropped back to 20 day moving average and ROC, or Rate Of Change is at oversold level. Although KD is weak as K line is below D line, the long term trend is still bullish as the major moving averages are going up. The stock was covered in early February at 91 cents per share and has since gained 85.71%. [Buy]