Penny Stock Pick - AXJ, CAU, SVVS

• Canyon Resources Corp. (CAU): shares of the Golden, Colorado based gold mining company surged 10.58% or 11 cents to $1.15 per share after the company completed Phase I of drilling and confirmed high-grade gold minerals in its Briggs Mine in California. The technical chart shows new buying opportunity as ROC has dropped near oversold level while MACD still show buy signal as MACD is still above signal line. Moreover the stock is still in bull market for long term as stock is above 50 day and 200 day moving average. However KD remains weak as K line is still below D line. The stock was initially covered last Wednesday. [Buy]
• SAVVIS Inc. (SVVS): shares of Town & Country, MO based VPN(Virtual Private Network) service provider rose 8.57% or 15 cents to $1.9 per share and added another 9.47% to $2.08 in after hour on new partnership with Middle East Telecoms. deal with DRM Networks as the company's Content Studio will be bundled with DRM's digital rights management package. The technical chart shows possible new buying opportunity as ROC has reached oversold level while MACD and signal line are still above 0. In addition the stock is still in the bull market for the long term as the stock is above 50 day and 200 day moving average with both moving averages going up. The only weak signal is KD where K line is still below D line. Since covered on April 7 at $1.65 per share, the stock has gained 15.15%. [Buy]
• AXM Pharma Inc. (AXJ): shares of Las Vegas, Nevada based diabetes drug maker skyrocketted 80% or 24 cents to 54 cents per share after the company announced that it will acquire 51% interest of a leading Chinese pharmaceutical and medical products company. The technical chart shows the stock is in a bear market rally as K line has rose on top of D line while MACD and signal line are still below 0 indicating bear market. The stock has escaped negative trend for the time being as it has broke above 50 day moving average. [Buy]